Proactive Investors - Roblox Corp (NYSE:RBLX) shares added more than 19% in early trade as the company reported third-quarter bookings that topped Wall Street estimates and narrowed its losses year-over-year.
The video game-building platform said its bookings grew 20% year-over-year to $839.5 million, above estimates of $830.2 million.
Bookings growth was noted as particularly strong in Western Europe and East Asia, while the United States and Canada accounted for the majority of growth in dollar terms.
Revenue also grew, up 38% from $517.7 million the year-ago quarter to $713.2 million.
Roblox narrowed its loss per share from $0.50 to $0.45, better than the loss per share of $0.52 expected by analysts.
“Our strong third quarter results reflect our continued platform innovation and growth across all age groups and geographies,” Roblox CEO David Baszucki said in a statement.
“We are executing against our key priorities to enable deeper forms of immersion, communication and Avatar expression on the platform, while investing in artificial intelligence, brands and advertising, to drive future growth.”
Roblox shares gained 19.1% at US$41.75 at the opening bell in New York on Wednesday.