Key Takeaways
- Roblox shares soared to a new all-time high on Thursday morning after the video game company posted its second-quarter results.
- Revenue was in line with estimates and Roblox posted a larger loss than expected, but its user numbers and bookings were better than forecast.
- The company lifted its full-year projections for revenue and bookings.
Shares of Roblox Corp. (RBLX) surged to a record high on Thursday after the video game maker reported higher user numbers and bookings than analysts had expected.
Roblox generated $1.08 billion in revenue, roughly in line with estimates, while its loss per share of $0.41 was 4 cents larger than analysts had forecast, per estimates compiled by Visible Alpha.
Despite the lackluster financial numbers, Roblox’s bookings of $1.44 billion, daily active users of 111.8 million, and 27.4 billion engagement hours were all above estimates. Those metrics were up 51%, 41%, and 58%, respectively, from the same time a year ago.
Roblox shares were up 13% in recent trading. Earlier in the session, shares set a record high of $150.59, surpassing a Nov. 2021 mark of $141.60.
Roblox Lifts Full-Year Revenue, Booking Forecasts
Roblox forecast its third-quarter revenue between $1.11 billion and $1.16 billion, just below the $1.18 billion analyst consensus, while bookings are projected between $1.59 billion and $1.64 billion, well above the $1.41 billion analyst estimate.
The company also lifted its full-year revenue and bookings projections to $4.39 billion to $4.49 billion and $5.87 billion to $5.97 billion, respectively, up from ranges of $4.29 billion to $4.37 billion, and $5.29 billion to $5.36 billion last quarter.
“Our year on year growth this quarter is a reflection of our strategic investments in infrastructure and performance, discovery, and the virtual economy, which continue to create fertile conditions for creators to thrive as part of a healthy, interconnected ecosystem,” CEO David Baszucki said.