(Reuters) -Roblox Corp reported better-than-expected bookings for the fourth quarter on Wednesday as users flocked to the online gaming platform during the holiday season.
The company has been expanding into other countries and trying to make inroads with older users to keep growth from easing off pandemic highs, when children had flocked to its “metaverse” to beat the lockdown blues.
Its strong December daily active user growth had also signaled that online gaming could sustain in a post-pandemic world, sending the company’s battered stock up about 25% so far this year.
Bookings – generated from in-game purchases of virtual currency “Robux” – rose 17% to $899.4 million in the quarter ended Dec. 31. Analysts were expecting net bookings of $881.4 million, according to Refinitiv data.
Net loss attributable to common stockholders widened to $289.9 million, or 48 cents per share, from loss of $143.3 million, or 25 cents per share, a year earlier.
(Reporting by Eva Mathews in Bengaluru; Editing by Devika Syamnath)
