3 reasons why Wall Street is playing Roblox again
CNN
Many adults heard the phrase “Robux” for the first time last holiday season when the virtual currency of gaming platform Roblox landed on the top of most wish lists. Roblox – with a stunning 70 million users – has attracted a fanatic fan base, especially among teens, with its wide offering of games, from simulations and adventure games to ones you design yourself or with friends.
Many adults heard the phrase “Robux” for the first time last holiday season when the virtual currency of gaming platform Roblox landed on the top of most wish lists. Roblox – with a stunning 70 million users – has attracted a devoted fan base, especially among teens, with its wide offering of games, from simulations and adventure games to ones you design yourself or with friends. This Thursday before the bell, Roblox will report its first quarter earnings. And it will have to prove to Wall Street there’s more growth up ahead. In its fourth quarter of 2023, Roblox revenue was $750 million, up 30% year-over-year – but had a net loss of $323.7 million. Investors have cooled. The stock has shuffled between $25 and $45 for many months after hitting a peak, just above $130 in 2021, the year the company went public. “The company has faced high operational costs and it needs to sustain rapid growth at the same time,” said Matilda Beinat, an AR/VR analyst at tech intelligence firm ABI Research. “Investors have wondered if that can be feasible.”
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