Summary by Futu AI
On May 9, 2024, Roblox Corporation released its financial results for the first quarter of 2024, which ended on March 31, 2024. The company reported a 22% increase in revenue to $801.3 million and a 19% increase in bookings to $923.8 million year-over-year. Despite the growth in revenue and bookings, Roblox experienced a net loss of $270.6 million for common stockholders and a consolidated net loss of $271.9 million. The company also reported a 37% increase in net cash provided by operating activities, amounting to $238.9 million, and a significant 133% increase in free cash flow to $191.1 million. Daily active users grew by 17% to 77.7 million, and the average monthly unique payers increased by 13% to 15.6 million. Roblox also provided guidance for the second quarter and updated its full-year projections for 2024, expecting revenue between $855 million and $880 million for Q2, and between $3,450 million and $3,525 million for the full year. The company hosted a live Q&A session to discuss these results and its future outlook.