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Why Roblox Stock Soared Today

TheMotleyFool

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Shares of Roblox (NYSE: RBLX) surged on Tuesday after the popular video game platform operator delivered strong first-quarter results. As of 2:20 p.m. EDT, its stock price was up more than 17%.

Roblox's revenue rocketed 140% year over year to $387 million. The gains were fueled by a 79% rise in average daily active users (DAUs) to 42.1 million, and a 98% increase in the number of hours gamers spent on Roblox's platform to 9.7 billion.

"A fundamental part of being human is connecting with others, and we're inspired by the way in which the Roblox community creates and shares experiences to play, work, and even learn together," CEO David Baszucki said in a press release.

Source Fool.com

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