RBLX - Roblox Lost $1.2 Billion in 2023. What Investors Need to Know
2024-02-17 07:35:00 ET
Roblox (NYSE: RBLX) is still a long way from generating sustainable profits. The online game platform and game creation system recently reported that its net losses actually expanded between 2022 and 2023. Yet there was plenty of good news in the Q4 announcement, including positive engagement metrics and improving cash flow.
Let's take a closer look at Roblox's 2023 losses and its prospects for market-beating shareholder returns from here.
Roblox's earnings trends look discouraging at first glance. Even though many of its peer tech companies were focused on cutting costs in 2023, Roblox generated $1.2 billion of red ink for the year compared to $900 million in losses in the prior year. Management warned investors not to count on a quick end to this situation, either. "We expect to continue to report net losses for the foreseeable future," executives said in a letter to shareholders.
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Roblox Lost $1.2 Billion in 2023. What Investors Need to Know