Roblox Is Firing on All Cylinders, but Still Has a Long Runway to Grow
Last week, gaming and social platform Roblox (NYSE: RBLX) released its first quarterly report as a public company. The builder of virtual shared worlds (otherwise known as the Metaverse) had an action-packed report, showing investors why its business is firing on all cylinders.
Management is expecting a slowdown in growth coming out of the COVID-19 pandemic. However, if you take a multi-year time horizon and look at all the investments Roblox is making in its platform, you can see that this business has a long runway to grow. Here's why.
In the first quarter ending in March, Roblox had $387 million in sales, up 140% from the prior year, while posting a net loss of $134.2 million. The platform had average daily active users (DAUs) of 42.1 million in the quarter, up 79% from the year before, and customers spent 9.7 billion hours on the platform.
Source Fool.com
