RBLX - Why Roblox Stock Bounced Back Big Time Today
2023-11-08 12:38:48 ET
Roblox (NYSE: RBLX) stock was up by an impressive 13.9% as of 12:30 p.m. ET Wednesday after reporting a third-quarter beat (of sorts) before the opening bell.
Analysts had forecast that the gaming platform company would record $829.5 million in "bookings" (a proxy for future revenues) in Q3, but it actually reported bookings of $839.5 million. Revenues for the quarter (which are recognized after "bookings" of its in-game currency, Robux, are actually spent by gamers) were $713.2 million.
Roblox also reported a $0.45 per share loss for the quarter. That might not sound great, but it did beat Wall Street's expectations for a $0.51 per share loss.
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Why Roblox Stock Bounced Back Big Time Today