Roblox Reports Over $500m Revenues in Q3

Roblox has reasons to celebrate, as the company has released its financial information for Q3 and it turns out that the company has experienced a 102% increase this year.

During Q3, the company has earned $509 million and what is also interesting is that bookings have increased by 28%, reaching a staggering $637 million. As for net loss, Roblox stated 74 million for the third quarter compared to the previous $140 million net loss that they experienced in the second quarter.

When it comes to the number of active daily users, there have also been significant improvements. If we compare this period to the same one in 2020, the number has increased by 31% and has now reached 47.3 million.

According to the Roblox representatives, engagement is everything for the company and it’s the reason they managed to achieve a great number despite periods affected by Covid and the fact that it’s now the back-to-school season. It’s not a secret that children and teenagers constitute a large portion of users on the site.

Chief Executive Officer of the company, David Baszucki, said that the team is very pleased that people from different corners of the globe spent more than 11 billion hours on the platform. Baszucki mentioned that the community of developers earned more than $130 million in Q3 and they are hopeful to be able to earn more than $500 million in 2021. They plan to continue offering better technology so that users of the platform can have a better experience creating and building on Roblox.

Back in March, the company started trading and managed to close the first day with an impressive $38 billion market cap on the NY Stock Exchange.

Are you one of the active users of Roblox? What do you think about this platform? Please, share what you think in the comments below.