© Reuters
Shares of Roblox Corporation (RBLX) saw a significant gain before the market opened on Wednesday after the company’s fourth-quarter financial results beat the average forecast of financial analysts.
The company, which operates an online gaming platform, reported a loss of $0.52 per share in the fourth quarter, which was $0.03 below financial analysts’ forecast of a loss of $0.55 per share. The company’s total bookings for the quarter reached $1.13 billion, up 25% from the same period last year and beating estimates of $1.07 billion.
At the time of writing, Roblox Corporation’s share price is up 11% from Tuesday’s closing price, now trading at $45 per share.
The company’s revenue for the quarter was $749.9 million, up 30% from the same quarter a year ago. The average number of daily active users was 71.5 million, up 22% from the previous year, while the average number of unique paying monthly users was 15.9 million, up 18% from the previous year. Additionally, the average revenue generated by each of these monthly paying users was $23.65, up 6% from last year.
“The final quarter of 2023 reflects our continued strong growth trajectory as we continue to introduce innovative features and new content to the Roblox platform,” said David Bazzucci, founder and chief executive officer of Roblox Corporation.
“As we enter 2024, we are more confident in our ability to achieve our ambitious goal of connecting more than one billion daily active users into a positive and respectful online community,” he added. .
Roblox Corporation has recognized that its growth is driven by the strong interconnection of its content, the social interactions between its users and the communication features it provides, as well as the company’s investments in creating immersive experiences, the expansion and development of its advertising capabilities. Artificial Intelligence Technology.
For the full year 2024, Roblox Corporation expects its revenue to be between $3.3 billion and $3.4 billion and total bookings to be between $4.14 billion and $4.28 billion dollars. For the first quarter of the year, the company expects revenue between $755 million and $780 million, with bookings estimated to be between $910 million and $940 million.
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