Shares of video-game company Roblox (NYSE:RBLX) soared as much as 35% in premarket trading after the company reported third-quarter results that beat Wall Street expectations.
The company reported an earnings per share (EPS) loss of 13 cents U.S. per share. Its revenue came in at $637.8 million U.S. versus $636.5 million U.S. that was expected by analysts. Roblox bookings grew 28% year-over-year in the quarter.
Roblox was founded in 2006 and is best known for providing entertainment to children. Of the top 1,000 experiences people played in Roblox in the third quarter, 28% of them had a majority of users who were at least 13 years old, up from 10% in the year-ago quarter, according to the company.
Roblox’s net loss in the third quarter widened to $74 million U.S. from $48.6 million U.S. in the year-ago quarter. Roblox said it had over 47.3 million average daily active users in the third quarter, up 31% year over year and up from 43.2 million in the second quarter.
The pre-market jump gave Roblox stock a premium of more than 60% from the $64.50 U.S. price it started trading on the New York Stock Exchange in March following a direct share listing.
Tech Insider
