Shares in video game developer Roblox (RBLX) rose more than 3% ahead of Thursday’s market open after the company hiked its revenue and bookings outlook for the full fiscal 2024.
For Q2 2024, Roblox reported a loss per share of 32 cents, which was better than the estimated loss of 39 cents per share.
The company's revenue came in at $893.5 million, surpassing the estimate of $865 million.
Moreover, bookings were $955.2 million, also exceeding the forecast of $890.5 million.
Looking ahead to the third quarter, Roblox expects revenue to be between $860.0 million and $885.0 million, compared to the estimate of $867.4 million.
The company projects bookings to range from $1.00 billion to $1.025 billion in that quarter.
For the full year, Roblox expects revenue to be between $3.49 billion and $3.54 billion, an increase from the previous outlook of $3.45 billion to $3.53 billion, with analysts’ estimate at $3.5 billion.
The company also raised its bookings forecast to between $4.18 billion and $4.23 billion, up from the prior range of $4.00 billion to $4.10 billion.
“Our strong Q2 growth across all core metrics is driven by diverse and high-quality content,” said David Baszucki, founder and CEO of Roblox.
“The dynamic Roblox content ecosystem is unique and our platform continues to attract users of all ages from across the globe. Going forward, we will continue to invest in our core platform to help our creator community build better and safer experiences and reach more people.”