Published , by Morgan Shaver
Published , by Morgan Shaver
Shares of Roblox (RBLX) jumped recently following the release of the company’s December 2022 earnings report in which bookings for the month were between $430 and $439 million, up a sizable 17-20 percent year-over-year (YoY). With these figures, Roblox stock climbed as much as 13 percent as reported by outlets like CNBC.
For those unfamiliar, game companies like Roblox refer to revenue figures as “books” or “bookings” with Roblox generating its revenue through sales of its virtual currency called Robux. Not only were bookings up 17-20 percent, but daily active users were up 18 percent as well from December 2021 to a staggering 61.5 million users.
Dissecting the numbers even further, CNBC reports that Roblox’s average bookings per daily active user were around $6.99 and $7.14 in December reflecting a change of -1 to +1 percent YoY.
“The December report seemed to encourage investors after shares of Roblox closed down 15.7% when the company released its November business update. That report showed slowing growth and a decline in how much it earns from its daily users,” CNBC explained. Currently, shares of Roblox are up over 30 percent year to date.
Now that you’re caught up on the state of Roblox (RBLX) stock, be sure to read through some of our previous Roblox coverage as well including rumors that Roblox may be coming to Meta Quest in 2023, and the announcement of Roblox and Spotify partnering to launch interactive virtual music experience back in 2022.