Roblox has reported its first quarter financial results for 2024, showing a total revenue increase of 22% from the same period in the previous year to $801.3 million. Bookings, which represent in-game purchases yet to be recognized as revenue, reached $923.8 million, up by 19%. However, a net loss of $270.6 million was incurred.
The platform saw a daily active user (DAU) count of 77.7 million, marking a 17% increase. The number of paying players amounted to 15.6 million accounts, with a total playtime of 1.67 trillion hours in the first quarter.
Despite slower growth and revised full-year performance targets, with projected revenue lowered from $4.14-4.28 billion to $4.00-4.10 billion for 2024, Roblox’s stock price plummeted by up to 22% following the earnings report.
Source: Reuters and Roblox
TLDR: Roblox’s Q1 2024 results show revenue growth, increased DAUs and paying players, but a net loss and a stock price drop due to revised targets for the year.
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