Roblox stock jumps as earnings boosted by strong network effects

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Roblox stock jumps as earnings boosted by strong network effects

Roblox (RBLX) shares surged premarket Wednesday after it topped fourth-quarter consensus expectations.

The online game platform reported a Q4 loss per share of ($0.52), $0.03 better than the analyst estimate of ($0.55). Bookings for the quarter came in at $1.13 billion, up 25% year-on-year and above the consensus estimate of $1.07 billion.

At the time of writing, Roblox shares are trading 11% above Tuesday's close at over $45 per share.

Roblox revenue was $749.9 million, up 30% year-over-year. Average daily active users (DAUs) were 71.5 million, up 22% year-over-year, while average monthly unique payers were 15.9 million, up 18% year-over-year, and the average booking per monthly unique payer was $23.65, up 6% year-over-year.

"We finished 2023 with another strong quarter of growth as we continue to drive innovation and new experiences across the Roblox platform," said David Baszucki, founder and CEO of Roblox.

"We enter 2024 with even more conviction of being able to achieve our long-term goal of attracting over 1 billion daily active users with optimism and civility," he added.

Roblox said it continues to benefit from the strong network effects in content, social connection, and communication, as well as its investments in immersive experiences, advertising, and AI.

Looking forward, RBLX sees full-year 2024 revenue between $3.3 billion and $3.4 billion, with bookings from $4.14 billion to $4.28 billion. For the first quarter, it expects revenue from $755 million to $780 million and bookings from $910 million to $940 million.

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