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RBLX-ROBLOX CORP

Roblox Shares Surge 22% After Strong Q3 Earnings, Analysts Optimistic About Growth Potential

Sunday

10 November, 2024

Roblox's latest earnings report reveals a remarkable 29% revenue growth, driving shares up 22% and showcasing a surge in daily active users. With a strong outlook for Q4 and a strategic PlayStation launch, can Roblox sustain this momentum in a competitive gaming landscape?

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Key Takeaways
  • Roblox Corporation reported a significant revenue growth of 29% year-over-year, reaching $919 million in Q3.
  • The user demographic is shifting, with players aged 13 and older now making up the majority.
  • The PlayStation launch has positively impacted revenue, contributing 8% to total bookings.
  • Analysts are optimistic, with Morgan Stanley raising the stock price target from $38 to $65.
  • The company is focusing on user safety and has a promising outlook for Q4.
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