Summary by Futu AI
On August 1, 2024, Roblox Corporation released its financial results for the second quarter ended June 30, 2024, and provided guidance for the third quarter and the full year of 2024. The company reported a 31% year-over-year increase in revenue to $893.5 million and a 22% increase in bookings to $955.2 million. Despite the growth in revenue and bookings, Roblox experienced a net loss of $205.9 million for common stockholders. The company's Average Daily Active Users (DAUs) rose by 21% year-over-year to 79.5 million, and hours engaged increased by 24%. Roblox's CEO, David Baszucki, attributed the strong growth to diverse and high-quality content created by the platform's user community. CFO Michael Guthrie highlighted the significant improvement in cash flow, with net cash provided by operating activities up 433% year-over-year to $151.4 million. Looking ahead, Roblox provided third-quarter revenue guidance between $860 million and $885 million and bookings between $1,000 million and $1,025 million. The company also updated its full-year 2024 guidance, projecting revenue between $3,490 million and $3,540 million and bookings between $4,180 million and $4,230 million.