Roblox stock jumped 10% Thursday after the company beat second-quarter revenue expectations and reported strong user growth, according to CNBC. The gaming platform reported $1.44 billion in net bookings for the quarter, a 51% increase year-over-year. The figure surpassed analyst expectations of $1.24 billion, according to LSEG. Roblox reported 111.8 million daily active users, up 41% year-over-year, and 27.4 billion hours engaged, up 58%, reflecting strong user and engagement growth. CEO David Baszucki stated that the company’s growth is due to strategic investments in infrastructure, discovery, and the virtual economy that support creators. Roblox raised its third-quarter booking guidance to between $1.59 billion and $1.64 billion. It reported a wider net loss of $279.38 million, or 41 cents per share.
