TECH - Roblox Joined Electronic Arts in Showing Gaming Demand Is Holding Strong Against the Gloomy Macroeconomic Backdrop | Benzinga
Roblox Corporation (NYSE: RBLX) delivered its third quarter results on Wednesday, topping both revenue and profit estimates. Upon the release of the report, shares closed more than 11% up as Roblox showed strong user growth. During the quarter, Roblox also made an acquisition of an AI startup that specializes in voice moderation technology and dismissed about 30 employees from its talent acquisition team as it focuses on improving its bottom line. Its results are another sign that spending is holding up well after gaming peer, Electronic Arts (NASDAQ: EA), raised its annual profit guidance.
Third Quarter Highlights
For the quarter ended on September 30th, Roblox showed its bookings continued to grow, 20% ...