RBLX - Roblox Expects Its Highest Revenue Ever in 2024 -- and Its Biggest Losses too. What Should Investors Do Now?
2024-02-15 07:00:00 ET
On Feb. 7, Roblox (NYSE: RBLX) reported financial results for 2023. The leading platform for online games and social experiences generated record revenue of $2.8 billion during the year, boosted by several encouraging metrics.
For starters, Roblox ended the year with 71.5 million daily active users, its most ever and a 22% year-over-year increase. Moreover, users spent 15.5 billion hours using Roblox's platform in the fourth quarter of 2023, which was up 21%. And with more users spending more time on the platform, it had Q4 bookings growth of 25%, which was its best bookings growth in two years.
Roblox's top-line metrics are trending in an encouraging direction but it's a different story on the bottom line. The company had nearly a $1.2 billion net loss in 2023, worse than its loss of more than $900 million in 2022.
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Roblox Expects Its Highest Revenue Ever in 2024 -- and Its Biggest Losses, too. What Should Investors Do Now?