Roblox Pleases Its Investors With Good Results For The Third Quarter

No one can deny that publishing better than average quarterly report is the best thing that can happen to a company. As occurred yesterday with game company Roblox (RBLX) when it released the Q3 report, which exceeded all Wall Street’s targets. Quarterly outcomes decide whether the firm will attract new investors or if existing investors will sell their shares. The stock price is trading at $96.15 in pre-market. The last times when the company exceeded $90 were observed in June and at the end of August. In the September quarter, orders were registered in the amount of $ 637.8 million, which is 28% more compared to the same period last year. Analysts had expected orders to total $636.5 million, according to FactSet.

Roblox | XboxAccording to David Baszucki, the CEO of Roblox, users of all ages spent more than 11B hours on Roblox during the third quarter. The growth of all company’s main indicators (DAUs, hours, and bookings) showed a significant increase compared to the previous year, despite the periods associated with Covid and the seasonality of returning to school. In Q3, the average daily active users climbed by 31% year over year to 47.3M, compared to Q2 when users rose 29% to 43.2M. The time spent by users is 11.2B hours, which is an increase of 28% year-on-year in the September quarter. In Q2, the number of engaged hours is 9.7B, up by 13%.