By Yasin Ebrahim
Investing.com – Roblox reported Monday first-quarter results that fell short of analyst expectations, but investors were comforted by signs of a ramp up in activity on its gaming-platform, easing fears of slowdown as the economy reopens.
Roblox (NYSE:RBLX), which made its stock market debut on Mar. 10, rose more than 3% in after-hours trade.
Roblox delivered a Q1 loss of 46 cents a share on revenue of $384 million, topping expectations for EPS of 13 cents on revenue of $572.6 million.
Bookings increased 161%, to $652.3 million.
Daily active users rose 79% in 2020 to 42.1 million and the number of hours that players spend on the app rising 98%, to 9.7 billion.
The company forked out about $118.9 million in fees to game creators, more than double the $44.5 million seen a year earlier.