A man photographs a Roblox banner on the facade of the New York Stock Exchange (NYSE), March 10, 2021, to celebrate the company’s initial public offering.
Brendan McDermid | Reuters
Robles Shares fell about 3.5% in premarket trading Wednesday following the video game company’s report First quarter results.
Here’s how the company does it:
- Loss per share: The loss was 44 cents a share, compared with expectations for a loss of 40 cents a share, according to a Refinitiv survey of analysts.
- Revenue (Booking): It was expected to come in at $774 million, compared with expectations for $766 million, according to Refinitiv data.
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The revenue figure is what Roblox calls pre-orders. It includes sales recognized in the quarter and deferred revenue.
Average daily active users (DAU) reached 66 million, up 22% year-over-year. Interaction time totaled 14.5 billion hours, up 23% year-over-year. DAU and engagement growth saw the largest increases in Roblox’s international and 13+ age groups.
“While users of all ages are also growing, older users continue to contribute the most, with 17-24 year olds up 35% in Q1 2023 compared to Q1 2022,” the company said in its earnings report. .”
The company reported a net loss of $268 million, or 44 cents a share, for the quarter, compared with a net loss of $160.2 million, or 27 cents a share, a year earlier.
The company said it was happy with current headcount and pay levels given “the momentum we’re seeing in bookings” amid a general downturn in technology spending and hiring. Roblox’s adjusted revenue, or bookings, rose 23% year-over-year.
“We can now begin to moderate the year-over-year growth in headcount and compensation expense, with bookings growth expected to outpace compensation growth beginning in the first fiscal quarter of 2024 and beyond,” the company said in its earnings report.