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Tuesday, August 9, 2022

Roblox Soars After Strong Third-Quarter Results

Popular video game platform Roblox  (RBLX) – Get Roblox Report  saw its stock soar as much as 30% in extended trading after the company released a very strong earnings report.

After the bell Monday, San Mateo, Calif.-based 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.

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