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HomeTechnologyAfter the Company's Third-Quarter Results Exceeded Expectations, Roblox's Shares Surged By 17%

After the Company’s Third-Quarter Results Exceeded Expectations, Roblox’s Shares Surged By 17%

Wednesday’s premarket trading saw a 17% surge in Roblox shares after the business reported third-quarter earnings that exceeded expectations in terms of both profitability and user growth.

The company performed as follows:

Revenue (bookings): 45 cents loss compared to LSEG’s (previously Refinitiv) projected 51 cent loss in terms of loss per share. $839 million as opposed to the $830 million LSEG had predicted

The revenue amount comes from a category Roblox refers to as bookings, which comprises deferred revenue and sales realised throughout the quarter. Year-over-year, bookings increased by 20%. In the same quarter last year, Roblox generated $702 million in bookings.

Robux is the virtual currency used by gamers to customise their avatars and purchase various in-game premium features. Robux sales bring in money for the corporation.

A year ago, Roblox recorded 70.2 million average daily active users, a 20% increase. In the second quarter, users engaged with Roblox for almost 16 billion hours, a 20% increase from the previous year.

Source (CNBC)

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