By Yasin Ebrahim
Investing.com - Roblox reported Monday third-quarter results that topped analyst expectations as user activity increased despite the easing of pandemic restrictions and back-to-school seasonality.
Roblox (NYSE:RBLX) rose more than 20% in after-hours trading.
Roblox delivered a Q3 loss of 13 cents a share on revenue of $509.3 million, topping expectations for a loss of 14 cents on revenue of $382.1 million.
Bookings increased 28%, to $637.8 million.
Daily active users rose 31% to 47.3 million year-on-year and the number of hours that players spend on the app rising 28%, to 11.2 billion.
The company hailed growth in all its core metrics - DAUs, hours, and bookings - despite lapping Covid-impacted periods and back-to-school seasonality.
Fees to game creators rose to $129.95 million from the $85.5 million seen a year earlier.
"We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year," the company said.