RBLX - Why Roblox Stock Is Jumping This Week
2024-02-09 11:43:09 ET
Roblox (NYSE: RBLX) stock is gaining this week thanks to solid Q4 results. The company's share price was up 8.2% from last week's market close as of 10:45 a.m. ET this Friday, according to data from S&P Global Market Intelligence .
Roblox posted fourth-quarter earnings results on Feb. 7, reporting a smaller-than-expected loss and bookings that beat Wall Street's estimate. The metaverse leader recorded a loss of $0.52 per share, beating the average analyst estimate by $0.03 per share. Meanwhile, bookings of $1.13 billion in the period beat the average Wall Street target's call for bookings of $1.08 billion.
Roblox's fourth-quarter revenue came in 30% higher year over year. Bookings were also up 25% compared to the prior-year's quarter. The company's operating income rose 20% year over year to hit $143.3 million, but the business still posted a net loss of $323.7 million. The company's net loss rose roughly 11.7% year over year, but momentum for bookings, sales, and engagement on the platform is recasting the bottom-line performance in a different light.
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Why Roblox Stock Is Jumping This Week