5 Stocks Making Big Moves on Earnings Reports

2. Roblox Corporation (NYSE:RBLX)

Number of Hedge Fund Holders: 49

Shares Roblox Corporation (NYSE:RBLX) skyrocketed more than 42 percent on Tuesday, 9 November 2021, after announcing its financial results for the third quarter. The online game platform reported a loss of 13 cents per share, narrower than the loss of 26 cents per share posted in the year-ago quarter. Analysts were looking for a loss of 14 cents per share.

In addition, Roblox Corporation (NYSE:RBLX) posted revenue of $509.3 million, representing a surge of more than two folds from the same period last year. Total booking in the quarter jumped 28 percent versus last year to $637.8 million, beating the consensus forecast of $618.8 million.

Moreover, Roblox Corporation (NYSE:RBLX) announced that the average daily active users (DAUs) in the quarter jumped 31 percent on a year-over-year basis to 47.3 million. In comparison, hours engaged, a key growth indicator, jumped 28 percent versus last year to 11.2 billion.

Discussing the results, CFO Michael Guthrie said:

“Growth in all of our core metrics – DAUs, hours, and bookings – displayed strong year-over-year growth despite lapping Covid-impacted periods and back-to-school seasonality. Notwithstanding significant investments in developer economics and hiring, we also generated healthy cash from operations. Based on our October results, we appear to be having a great start to the last quarter of the year.”