ROBLOX BEATS ESTIMATES AND SHARES RISE 12%
Company Roblox Corporation $RBLX+0.4% reported financial results for its fiscal fourth quarter, posting better than financial analysts' expectations. The loss per share came in at 52 cents, which was lower than the expected 55 cents. The company also achieved a significant jump in revenue, at $1.13 billion, beating the $1.08 billion estimate.
A key element of the company's success is virtual currency Robuxwhich is used to enhance the gaming experience and is a major source of revenue. The company's full-year revenue was $3.52 billion, beating the estimated $3.41 billion, with a full-year loss per share of $1.87, better than the projected $1.91.
CEO David Baszucki announced ambitious plans for large-scale user expansion, with the goal of attracting more than 1 billion daily active users by the end of 2024.
For the first fiscal quarter and full year 2024, the company projects revenue in the range of $910 million to $940 million, with a net loss in the range of $342 million to $347 million. Full-year revenue estimates range from $4.1 billion to $4.28 billion, beating estimates in the range of $3.4 billion to $4.27 billion.
How do you feel about the gaming industry and this company, would such a company find a place in your portfolio?
Nice results. And the movement. But unfortunately the stock is still in a sideways trend where you don't know if it will break out or fall again :) I don't have this stock in my portfolio. I see they managed to reduce their debt nicely to $1.65 billion. Unfortunately, they are still pretty loss making though...