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Roblox stock up more than 30% after strong earnings report


Today, Wednesday March 10th, 2021 marks the Direct Listing of Roblox (NYSE : RBLX).


The shares of RobloxThe stock market continued its climb Tuesday after video-game giant Microsoft reported strong results. third quarter financial results

Around noon ET, the stock price of this company was higher than 32%

Investors were impressed by the October results of the company, and not the entire third quarter that ended Sept. 30, which may indicate what the future holds for them.

Stifel analysts said Monday that October was historically the lowest month in 4Q. This gives us more confidence about our 4Q assumptions.

Roblox reported that the average daily active user increased by 43% over last year in October’s first 27 days. The company also noted strong engagement over that period. The game was not available between Oct. 28-31.

Roblox still outperformed Wall Street in revenue (bookings)

Roblox recorded bookings in excess of $637.8 millions, an increase of 28% over the previous year. This compares to an estimate $636.5 million. Deferred revenue, however, was at $509.3million. This is a 102% increase year-over-year.

Roblox saw more than 47.3million average daily active users during the third quarter. This is an increase of 31% over the previous quarter and an improvement on the 43.2 million registered in the second quarter.

According to executives, “Roblox continues to be an essential part of people’s day even though users return back into pre-pandemic behaviors and routines.” letter to shareholders

CNBC’s Jordan Novet, Michael Bloom contributed to the report.

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