RBLX - Roblox Q4 earnings: here's what CEO Baszucki said in the press release

2024-02-07 08:07:42 ET

Roblox Corp (NYSE: RBLX) is trading up in premarket on Wednesday after reporting strong results for its fiscal fourth quarter.

How many users does Roblox now have?

Investors are cheering also because the California-based company ended Q4 with 71.5 million DAUs – up 22% versus the same quarter last year. Hours engaged increased 21% year-on-year as well to 51 billion. David Baszucki – the chief executive of Roblox Corp said in a press release today:

We enter 2024 with even more conviction of being able to achieve our long-term goal of attracting over 1
billion daily active users with optimism and civility.

Roblox now forecasts bookings to fall between $4.14 billion and $4.28 billion in 2024. It, however, expects to remain in up to $1.4 billion of consolidated net loss this year.

Earlier this week, the New York listed firm launched AI-enabled chat translations in real time. Wall Street currently has a consensus “overweight” rating on Roblox stock.

Notable figures in Roblox Q4 earnings release

• Lost $323.7 million versus the year-ago $289.9 million
• Per-share loss also narrowed from 48 cents to 52 cents
• Revenue jumped 30% year-over-year to $749.9 million
• $1.13 billion in bookings were up 25% versus last year
• Consensus was 55 cents loss on $1.07 billion bookings

Roblox generated $15.75 in average revenue per user (3.0% increase), as per its fourth-quarter earnings report. CEO Baszucki also said on Wednesday:

We continue to benefit from the strong network effects in content, social connection, and communication, as well as our investments in immersive experiences, advertising, and AI.

Note that Ken Gawrelski – a Wells Fargo analyst gave Roblox stock upside to $49 in his recent note to clients.

This is a developing story. Check back in a few minutes for more updates!

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