Roblox Stock ( NASDAQ:RBLX )
Roblox ( NASDAQ:RBLX ) recently disclosed its key data for December, demonstrating continued expansion within the company. There were 61.5 million daily active users, an increase of 18% year over year, and anticipated bookings were between $430 million and $439 million, an increase of 17-20% within the same time frame.
These better-than-expected results for December instilled excitement among investors, as evidenced by Roblox stock climbing 12% on January 17, which was the most in three months, and came after a disappointing November that saw slow growth and declining daily active users. In November, the company saw slow growth and a decline in daily active users.
On the other hand, it is anticipated that revenues for the month would fall somewhere between $189 million and $199 million, representing a decrease of 1% to 6% from the previous year. This is due to the strengthening of the United States Dollar compared to other currencies; this is a big market for Roblox. According to Backlinko, only 28% of Roblox users came from the United States and Canada in 2021, while most of the remaining users came from Europe and other parts of Asia and the Pacific.
Roblox stock fell by 51.3% year over year due to the headwind.
Roblox’s Growth Could Be Helped Along by Its Introduction to the Metaverse
According to PwC’s Global Entertainment and Media Outlook 2022-2026 , the value of the gaming business around the world is projected to reach $321 billion by the year 2026. Because of this, the gaming business has a promising future, which presents an opportunity ...
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