Roblox has focused on increasing the proportion of older users on its videogame platform.
Courtesy of Roblox
Roblox
stock climbed early on Wednesday after the videogame platform company reported stronger fourth-quarter financial results than expected.
Roblox
(ticker: RBLX) booked a loss of 48 cents a share for the December quarter. Its fourth-quarter bookings—a metric viewed by analysts as a leading indicator for future revenue from videogame companies—came to $899.4 million.
Analysts had on average expected an adjusted loss of 50 cents a share from bookings of $871.2 million, according to FactSet.
Shares were up 16% in premarket trading on Wednesday.
Roblox
offers a platform that lets users create and interact in virtual worlds. The company has previously said that more than half its user base is now over 13, a key factor in increasing bookings per user.
“Bookings accelerated meaningfully in December and January, with year over year growth exceeding 20% in both months,” said Michael Guthrie, Roblox’s chief financial officer. “Growth was strong across all geographies and age groups with particular strength among users above 17 years old.”
Roblox said that for January, its estimated bookings were between $267 million and $271 million, up 22%-24% from the same period the prior year on a constant-currency basis. Its average daily users for January were 65.0 million, up from 61.5 million in December.
Write to Adam Clark at adam.clark@barrons.com
Credit: marketwatch.com