RBLX - RBLX Stock Alert: Roblox Pops 12% on Bookings Update
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Roblox (NYSE:RBLX) stock is on the rise Tuesday after the company provided metrics for the month of December.
The big news exciting investors in RBLX stock today has to do with the company’s bookings for the month. It estimates this ranges from $430 million and $439 million. That represents a 17% to 20% increase year-over-year (YOY).
To put this in perspective, Wedbush analyst Nick McKay was expecting bookings of $393.5 million. Also, Wall Street was looking for bookings for the month to come in at $410.4 million. This has RBLX’s results beating both those estimates.
In addition to that, the company said that the estimated average bookings per daily active user (DAU) is between $6.99 and $7.14. This represents a -1% to 1% YOY change for the metric.
More Metrics Moving RBLX Stock
Other details worth noting from the release is the company’s DAUs increasing 18% YOY to 61.5 million. Hours users were active on the gaming platform came in at 4.7 billion, which is a 21% increase from December 2021.
Finally, Roblox reports an estimated revenue of $189 million and $199 million for December 2022. That’s a decline of 1% to 6% YOY. Also, the company notes that it is discontinuing its monthly metric reports following its March 2023 release in April 2023.
RBLX traders are reacting positively to the news with heavy trading of the stock. As of this writing, more than 15 million shares have changed hands. That’s already above the company’s daily average trading volume of about 14.7 million shares.
RBLX stock is up 11.5% as of Tuesday morning.
Investors on the lookout for more of the latest stock market news are in luck!
InvestorPlace is home to all of the hottest stock coverage traders need to know about on Tuesday! A few examples include what’s happening with shares of Carvana (NYSE:CVNA), Bed Bath & Beyond (NASDAQ:BBBY), and Tritium (NASDAQ:DCFC) stock today. You can catch up on all of that at the following links!
More Tuesday Stock Market News
- Carvana (CVNA) Stock Pops After Poison Pill Adoption
- BBBY Stock Alert: Will Bed Bath & Beyond Go Bankrupt?
- Why Is Tritium (DCFC) Stock Up 27% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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