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Roblox’s Revenue Doubles In The Third Quarter

Roblox Shares Fly After Its Revenue Doubled During the Third Quarter

ROBLOX, which was founded in 2006 and is best known for its fun games for kids, announced its third-quarter results that wowed Wall Street analysts, sending its stock up about 35% in extended trading.

ROBLOX lost 13 cents per share, adjusted revenue (sales) of $637.8 million compared to analyst expectations of $636.5 million, as sales grew 28% year-over-year, and excluding deferred revenue, the company’s revenue increased 102% to a record $509.3 million, knowing that it achieved a revenue growth of 127% last quarter, but its net loss increased from $48.6 million a year ago to $74 million during the quarter, and ROBLOX reported that it had about 47.3 million daily active users with a quarterly growth rate of 31% compared to About 43.2 million users during the second quarter.

The Roblox game was disrupted and remained unavailable during the period from 28 to 31 October, a period calculated from the company’s fourth quarter, and this incident led to a clear decline in the number of daily active users, which was reflected in a loss in sales amounting to 25 million dollars, In addition to the $6 million in sales collected by the company during the game’s outage period, the developers did not receive any compensation.

The extended hours trading gave ROBLOX’s stock a price nearly 60% higher than the $64.5 price it started trading on the New York Stock Exchange in March following its direct subscription.

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