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Roblox shares rebound: Pre-orders for video game platforms are surging

via:新浪科技     time:2022/10/18 9:00:31     readed:76

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Sina technology news Beijing time on October 18 morning news, according to reports, the local time on Monday, the stock price of Roblox company jumped 20%, this is the company's biggest one-day rise since November last year. The video game platform had previously forecast that its revenue would jump in September as users spent more time with its games.

The SAN Mateo, California-based company said its September order book was expected to be between $212 million and $219 million, up as much as 15 percent from a year earlier. That figure includes revenue, deferred revenue and other adjustments, and offsets a strong dollar that dampened foreign results.

Mandeep Singh, an analyst at Bloomberg Intelligence, said the order volume showed the company had achieved "meaningful" monthly growth. "The company's strength in user-generated content (UGC) should help expand its user base beyond its core demographic of 9-13 year olds," he said. "[User growth] is faster than that of rival Meta, whose Horizon Worlds product has seen user engagement decline."

Roblox said its daily active users jumped 23% to 57.8 million in September, and the time users engaged grew 16% to 4 billion hours during the same period.

Matthew Thornton, an analyst at Truist Securities, was also upbeat on the numbers, noting that "improved monetization is driving revenue up."

And while the stock added $4.2 billion in market value during the day, it is still down 59 percent for the year amid a broad sell-off in growth and technology stocks.

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