Roblox shares surged more than 20% in premarket trading.Roblox released an earnings report showing that bookings increased by 28% while users played its games for a total of 11.2 billion hours in the latest quarter. Total revenue (excluding deferred revenue) was up 102% at $509.3 million while demand for popular games like "MeepCity" and "Adopt Me!" remained strong despite the drop anticipated as pandemic-related restrictions eased across the country.
"Growth in all of our core metrics — DAUs, hours, and bookings — displayed strong year-over-year growth despite lapping Covid-impacted periods and back-to-school seasonality,” Michael Guthrie, Chief Financial Officer of Roblox, said in a press statement.
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