Roblox's daily average user count is still climbing
Roblox Corp.'s financial results for the first quarter of fiscal year 2022 have arrived, and it appears that the company is seeing major gains in how many people log into Roblox on a daily basis.
That's because the daily average user (DAU) count for the quarter rose 28 percent from the first quarter of 2021. An average of 54.1 million users logged into Roblox each day in the three-month period ending March 31, 2022.
Those users drove $537 million in revenue, up 39 percent year-over-year. What strangely didn't increase was bookings (money spent on virtual currency in Roblox). That amount decreased about three percent to $631.2 million.
Roblox Corp. is still losing money, but losses didn't increase dramatically year-over-year. Consolidated net loss clocked in at $162 million, only about 19 percent more than the amount of money the company lost in Q1 2021.
These metrics seem to have pleased investors. As of this writing, the company's stock is trading at $24.17 per share after peaking at $27.2 per share in early trading. That's still way down from the highs it was trading at one year ago (about $98 per share), but still positive movement given how investors reacted to previous financial announcements.
Roblox Corp. chief executive officer David Baszucki credited the release of spatial voice technology and layered clothing in Roblox as being key drivers for its performance this quarter. That latter point sounds a little silly at first, but it's actually a neat technological advancement given how much of Roblox's revenue is wrapped up in in-game cosmetics.
If a Roblox character could only wear (hypothetically speaking) 7 pieces of clothing, and now they can layer clothes to increase that number, it's more opportunities for user
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