Roblox sees bookings and revenues soar in first results since listing

0
10

Roblox Corp (NYSE:RBLX) has reported a surge in revenues and bookings as it delivered its first set of quarterly results since listing on the New York Stock Exchange in March.


On Monday, the online video game platform reported bookings of US$652.3mln in the first three months of 2021, up 161% year-on-year, while revenues jumped 140% to US$387mln.


READ: Roblox secures support from ARK ETF but shares lose momentum on Friday


However, the group also delivered a net loss of US$134.2mln, wider than the US$74.4mln loss reported a year ago.


Roblox also highlighted strong user growth during the year, with hours engaged up 98% year-on-year at 9.7bn with growth of 104% in markets outside of the US and Canada.


“A fundamental part of being human is connecting with others, and we’re inspired by the way in which the Roblox community creates and shares experiences to play, work and even learn together. The opportunity of what we’re building at Roblox is massive, and we will continue to make long-term investments as we build a human co-experience platform that enables shared experiences among billions of users,” Roblox chief executive David Baszucki said in a statement.


“Our first quarter 2021 results enabled us to continue investing aggressively in the key areas that we believe will drive long term growth and value, specifically hiring talented engineering and product professionals and growing the earnings for our developer community. We believe we must continue to innovate and so remain focused on building great technology to make progress on our key growth vectors, primarily international expansion and expanding the age demographic of our users,” added chief financial officer Michael Guthrie.

LEAVE A REPLY

Please enter your comment!
Please enter your name here