Roblox Corporation, a leading online platform for user-generated content, reported a 29% increase in revenue to $918.9 million for the third quarter of 2024 compared to the same period in 2023. The growth was attributed to higher amortization of prior period deferred revenue and an increase in bookings, driven by a rise in the average number of daily unique paying users from approximately 870,000 to 1,143,000. Despite the revenue growth, the company posted a consolidated net loss of $240.4 million for the quarter, a slight improvement from the $278.8 million loss in Q3 2023. The net loss per share for common stockholders was $0.37, down from $0.45 in the previous year. Operating expenses saw a significant increase, particularly in developer exchange fees, which rose by 36% due to growth in bookings. Infrastructure...Show More

Roblox Corporation, a leading online platform for user-generated content, reported a 29% increase in revenue to $918.9 million for the third quarter of 2024 compared to the same period in 2023. The growth was attributed to higher amortization of prior period deferred revenue and an increase in bookings, driven by a rise in the average number of daily unique paying users from approximately 870,000 to 1,143,000. Despite the revenue growth, the company posted a consolidated net loss of $240.4 million for the quarter, a slight improvement from the $278.8 million loss in Q3 2023. The net loss per share for common stockholders was $0.37, down from $0.45 in the previous year. Operating expenses saw a significant increase, particularly in developer exchange fees, which rose by 36% due to growth in bookings. Infrastructure and trust & safety expenses also increased by 12%, partly due to a one-time charge related to the re-assessment of certain software licenses. Research and development costs went up by 14%, reflecting continued investment in the platform's capabilities. Roblox's future plans include further investments in its developer and creator community, technology, and infrastructure, with a focus on maintaining a safe and civil online community. The company is also adapting to regulatory requirements and evolving guidance on child and internet safety, which may impact user engagement and financial performance.