Roblox bookings jump to $1.1bn in Q3
Roblox has released its third quarter financial results for 2024, which saw a significant increase in bookings due to "unusually high growth" in its console business.
Roblox noted an increase in the number of its daily active users (DAU), up 27% year-on-year to 88.9 million.
Looking at hours engaged, it reported a rise of 29% year-on-year to 20.7 billion.
Roblox said it "benefited from unusually high growth in [its] console business" compared to the same period last year, as it is now fully operating on PlayStation.
Bookings on the console accounted for 8% of total bookings for the quarter. 92% of total bookings were from non-console platforms including PC and mobile which grew by 28% year-over-year.
The games firm highlighed key initiatives such as improvements in AI, its virtual economy and marketplace, its app launch times and quality, and live operations contributed "to the acceleration of growth over the past two quarters."
"Roblox's exceptional Q3 results demonstrate the strength of our platform and the effectiveness of our growth strategies," said Roblox CEO David Baszucki.
"As we look ahead, we remain committed to building the world's largest social platform for play, and we're confident that our continued innovation and focus on safety will drive long-term value for our shareholders and the broader Roblox community."
Looking ahead, the company predicted revenue of between $935 million and $960 million for the fourth quarter of 2024. Meanwhile, bookings are estimated to be between $1.33 billion and $1.36 billion.
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