Roblox Beats Expectations with Strong Q4 Earnings
In Brief
Roblox has surpassed expectations with its Q4 financial results, causing its shares to soar by 25%.
Roblox has seen a 19% YoY increase in average DAUs in Q4 2022, totaling 58.8 million, and a 23% YoY increase in full-year 2022 average DAUs, reaching 56 million.
Following the release of its Q4 financial results on Wednesday, Roblox shares surged by 25% as investors reacted positively to the company’s earnings, which exceeded expectations. With its shares reaching $44.18, Roblox was poised to have its most successful day in over a year, resulting in an increase of approximately $5 billion in its market valuation.
Roblox, which has gained popularity through games such as Jailbreak, Royale High, Murder Mystery, and others, attracts a younger audience who use the platform not only for gaming but also for chatting and socializing with other players. The company also achieved milestones by collaborating with famous musicians, such as Elton John, to host live concerts within the platform.
As of the fourth quarter of 2022, Roblox announced a 19% year-over-year increase in its average daily active users (DAUs), with a reported total of 58.8 million. The company also stated that its full-year 2022 average DAUs were 56 million, a 23% year-over-year increase.
Roblox also said that its players were more engaged with the games on the platform for a longer time, both during the fourth quarter and throughout 2022. In Q4, the total number of engaged hours grew by 18% year-over-year, amounting to 12.8 billion, while the engaged hours in 2022 were up by 19% YoY, reaching 49.3 billion.
In Q4, the revenue went up by 2% year-over-year to $579 million, and for the entire year, it rose by 16% year-over-year to $2.2 billion.
Numerous well-known brands have partnered with the metaverse gaming platform. Roblox played host to the Saweetie Super Bowl Concert for the National Football League, while H&M introduced a fashion-themed “Loooptopia Experience” on the platform. There have also been reports that Roblox may feature on Meta’s Quest 2.
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About The Author
Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
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Agne is a journalist who covers the latest trends and developments in the metaverse, AI, and Web3 industries for the Metaverse Post. Her passion for storytelling has led her to conduct numerous interviews with experts in these fields, always seeking to uncover exciting and engaging stories. Agne holds a Bachelor’s degree in literature and has an extensive background in writing about a wide range of topics including travel, art, and culture. She has also volunteered as an editor for the animal rights organization, where she helped raise awareness about animal welfare issues. Contact her on agnec@mpost.io.
