news

Shares of Roblox Pop After December Update Shows Increase in Bookings

Rafael Henrique | SOPA Images | LightRocket | Getty Images
  • Shares of Roblox popped Tuesday after the gaming company released its December 2022 metrics report.
  • The company said estimated bookings were between $430 million and $439 million for the month, up 17% to 20% year over year.

Shares of Roblox closed up 11% on Tuesday after the gaming company released its December 2022 metrics report. It showed estimated bookings were between $430 million and $439 million for the month, up 17% to 20% year over year.

Roblox calls its revenue figure bookings. The company generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium features in the games.

Daily active users rose 18% from December 2021 to 61.5 million users.

Roblox's average bookings per daily active user were between $6.99 and $7.14 for the month, which reflects a change of -1% to +1% year over year.

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.

Chief Business Officer Craig Donato told CNBC's Steve Kovach in August that Roblox is bullish on the future because of its investments in its employees, server capacity and global data centers.

Shares of Roblox are up more than 30% year to date.

Copyright CNBCs - CNBC
Contact Us