Roblox Stock Surges as Video Game Company's Q4 Results Beat Estimates on Record Bookings

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Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published February 07, 2024
Roblox

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Key Takeaways

  • Roblox posted better-than-expected quarterly results as the online video game company's bookings took off and it added users.
  • Bookings, which include sales in a quarter and deferred revenue, hit an all-time high.
  • Roblox's current quarter and full-year bookings guidance came in above estimates.

Shares of Roblox (RBLX) surged after the online video game company reported higher-than-forecast quarterly results on the back of record bookings.

Bookings, which the company defines as sales as well as the change in deferred revenue, jumped 25% to $1.13 billion. The company's net loss for the three months ended December widened to 52 cents a share versus 48 cents a share a year earlier, while revenue increased 30% to $749.9 million, but both top- and bottom-line numbers beat Wall Street forecasts.

"We ended the year with our strongest rate of quarterly bookings growth in two years and delivered our first quarter of $1 billion in bookings," said Michael Guthrie, chief financial officer of Roblox.

The number of daily active users, or DAU, increased 22% to an all-time high of 71.5 million, Roblox said. Roblox founder and CEO David Baszucki said the group was optimistic about achieving its long-term goal of having 1 billion daily active users.

Roblox predicted current quarter bookings in the range of $910 million to $940 million, and full-year bookings at between $4.14 billion and $4.28 billion. Both were above analysts’ expectations.

Shares of Roblox were 10.4% higher at $44.78 per share as of 1:15 p.m. ET time Wednesday. They've gained 16% over the past year.

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Article Sources
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  1. Roblox. “Roblox Reports Fourth Quarter and Full Year 2023 Financial Results.”

  2. Roblox. "Roblox Reports Fourth Quarter and Full Year 2023 Financial Results."

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