Overall, the September user metrics clearly showed that Roblox’s core business is still doing well. Without these foreign exchange headwinds, the company estimates that bookings would have increased by 17% to 21%. Meanwhile, bookings (sales of Roblox’s in-game currency that are not recorded as revenue until a user spends the currency) increased by 11% to 15% year over year in September, despite continuing negative foreign exchange effects from the strong dollar. Roblox stock (NYSE:RBLX) has long been labeled as a pandemic stock, but its September results call that hypothesis into question.
Because the company earns between $3.67 and $3.79 per active user, its user count indicates its upcoming revenue and earnings early. These metrics are critical for Roblox, which runs an online, metaverse-style gaming network. Roblox released its September user metrics on Monday, revealing higher-than-expected growth in daily average users (DAUs) and engaged hours. Roblox Stock: Roblox’s User Base Continues to Grow. Let’s take a look at what drove the stock up, its long-term prospects, and whether it’s still a buy despite its recent surge. Pachter also examines Take-Two Interactive's (TTWO) earnings miss ahead of forecasts for Grand Theft Auto VI's release, Microsoft's (MSFT) deal with Activision-Blizzard (ATVI), and the metaverse's future in gaming.This week, many people are undoubtedly asking questions about Roblox stock (NYSE:RBLX) with its recent rise. "They told us to expect single-digit profit margins," later adding: "The Street read that as 9% and it came in at 4.9%, so they really surprised people with how bad their profits were." Pachter cites Amazon CEO Andy Jassy's pivot to profitability after a series of stock losses as inspiration Roblox should aspire to. "They're just not as profitable as I think a $20 billion valuation implies they should be," Michael Pachter, Wedbush Managing Director of Equity Research, tells Yahoo Finance Live. Roblox did see an increase in daily active users and monthly player counts. Missing on earnings estimates with losses of $0.46 per share, the video game company topped revenue expectations by drawing in $780.7 million. Roblox (RBLX) shares are diving after reporting wider-than-expected losses in its second-quarter earnings.
Yahoo Finance Video Roblox needs to learn from 'the Andy Jassy playbook' after Q2 earnings: Analyst
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