Why Roblox Stock Rocketed 42% Today

Motley Fool2021-11-10

What happened Shares of Roblox(NYSE:RBLX)soared by 42% on Tuesday after the popular video game development company delivered strong third-quarter numbers. So what Roblox's revenue surged by 102% year ...

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Golobee
2021-11-10
Golobee
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Meanwhile, the company's bookings -- a key metric that factors in deferred revenue and represents the dollar amount of virtual currency that users bought during the quarter -- jumped by 28% to $637.8 million.\nThis heady growth was driven by a 31% rise in average daily active users (DAUs) to 47.3 million, and a 28% increase in hours engaged to 11.2 billion.\n\"Engagement is our north star,\" CEO David Baszucki said in a press release. \"We're very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox.\"\nStill, Roblox is not yet profitable. Its net loss for the quarter came in at $74 million. 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