Roblox (RBLX, Financial), a popular video game platform, experienced a significant rise in its stock price, climbing over 16% to $50.36. This increase came after the company reported impressive third-quarter booking figures that exceeded analyst expectations, reaching $1.1 billion, a 34% year-over-year growth.
The substantial growth in bookings was driven by a steady increase in user numbers and engagement time, prompting Roblox to revise its 2024 full-year booking forecast upwards. The company now projects operating revenue to be between $3.55 billion and $3.57 billion, compared to the previous estimate of $3.49 billion to $3.54 billion. However, analysts hold an even more optimistic view, projecting full-year revenue to reach $4.22 billion.
