Roblox today released its financial earnings report for Q3 2023, and the company reports revenue of $713.2 million, a 38% increase year-over-year, as well as bookings of $839.5 million, a 20% increase over the same period. In addition to monetary figures, Roblox also reported it had over 70 million daily active users, a 20% increase from the previous Q3, and 14.7 million unique monthly payers, a 14% increase.
Roblox’s net loss for the quarter is $277.2 million, down almost $20 million from the previous quarter. It also saw a 20% increase in engagement, to 16 billion hours. The company’s stock jumped by almost 15% after the earnings report came out, largely thanks to beating analysts’ estimates for the quarter.
According to Roblox CFO Michael Guthrie, bookings grew most in Europe and east Asia across the time period. The company also “slowed spending growth across most of our major expense categories,” to which Guthrie attributes its improved margins. The company’s Ashburn-based data center is also almost complete, Guthrie says, which decreased capital expenditures. The company’s personnel costs increased 22% (excluding stock-based compensation),
David Baszucki, Roblox CEO, said in a statement, “Our strong third quarter results reflect our continued platform innovation and growth across all age groups and geographies. We are executing against our key priorities to enable deeper forms of immersion, communication and Avatar expression on the platform, while investing in artificial intelligence, brands and advertising, to drive future growth.”
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Author: Rachel Kaser
Source: Venturebeat
