Roblox Corp. (NYSE: RBLX) released its first-quarter earnings report earlier this week. Growth in earnings and subscriber numbers are the main driving forces of this gaming platform.
Despite the company’s online gaming platform’s popularity during COVID-19, Roblox’s customer base remains loyal at the end of the crisis. In the meantime, Roblox itself does not produce content for the platform, relying instead on an 8 million strong community of creators and developers. To attract new customers, the company believes it is necessary to invest substantially in content quality. Roblox’s first-quarter revenues were 30 %attributed to developer fees, the company’s largest expense. It is because of this that the company suffered a $ 135 million operating loss in the last quarter.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free. .
Roblox Corp. (NYSE: RBLX) users expanded 37 % over the past quarter to nearly 43 million. Users on the platform have spent 3.2 billion hours on the platform in just one month. There have been over 10 billion hours spent on the platform during the quarter. Spending more time on the platform is a sign of quality content being found on it. However, one of the key indicators of potential growth is the number of subscriptions generated per daily active user.
The first quarter saw sales of $ 387 million for Roblox, up 140 % year-over-year. It is also important to note that the platform has expanded into international markets, especially China through its partnership with Tencent. Among the top 250 developers worldwide were Chinese developers, according to the company.
Roblox’s growth advantage is that it will be available on other consoles and hardware, like the Nintendo Switch, Sony Playstation, and Facebook’s Oculus Quest (currently unavailable on any of those devices).
In the last trading session, shares of Roblox Corporation (RBLX) were trading at $89.71. The price range of the company’s shares was between $87.59 and $97.50. The company traded 19.85 million shares. During the last five days, RBLX’s shares gained 27.70%, and in the past month, they gained 28.86%. The company’s price to book ratio stands at 96.50 currently.