San Mateo, California – Roblox, a popular video game developer, reported its quarterly earnings, surpassing analyst expectations. The company announced a loss per share of 52 cents, which beat the analyst consensus of 55 cents. Additionally, Roblox reported a revenue of $1.13 billion, exceeding the expected $1.08 billion.
The revenue figure includes Roblox’s bookings, which consist of sales recognized during the quarter and deferred revenue. The company generates revenue from the sales of its virtual currency, Robux, which players use to purchase in-game features and customize their avatars.
Roblox also reported a full-year revenue of $3.52 billion, surpassing the analyst consensus of $3.41 billion. The company’s full-year loss per share was $1.87, compared to an expected $1.91. Roblox’s quarterly bookings reached $1.1 billion, marking a new high for the company.
CEO David Baszucki expressed optimism for the company’s future, stating, “We enter 2024 with even more conviction of being able to achieve our long-term goal of attracting over 1 billion daily active users with optimism and civility.” The company reported an increase in average daily active users to 71.5 million for the quarter, a 22% rise compared to the year-ago period
Roblox’s average daily active users have shown growth for the past two quarters, with a 3% increase in average bookings per daily active user. The company also experienced double-digit growth in both the 13-and-up segment and the non-U.S. & Canada segment, indicating strengthening trends internationally and among older players on the platform.
Looking ahead, Roblox provided guidance for 2024, expecting first-quarter bookings between $910 million and $940 million, with a projected net loss ranging from $342 million to $347 million. The company also guided full-year 2024 bookings between $4.1 billion and $4.28 billion, with a projected net loss of between $1.37 billion and $1.4 billion. Additionally, personnel costs continue to weigh on the company, with quarterly personnel costs growing 24% year over year.