Roblox Continues To See Revenue Growth And Slows Losses A Bit In Latest Earnings Report

Roblox continues to be quite popular as the numbers from the latest earnings report show. Their latest quarter ended on September 30, 2023 and everything is looking up.

Revenue was up 38% year-on-year to $713 million, while net losses were down from $302 million to $279 million. Daily active users were up 20% to 70 million. Last quarter's daily active users came in at 65.5 million. Of those players, unique players were up 14% to 14.7 million and hours engaged was up 20% to 16 billion according to the newly released report.

CFO Michael Guthrie said that growth was particularly strong in Western Europe and East Asia, and added that "The US and Canada still accounted for the majority of bookings growth in dollar terms among all regions. We also slowed spending growth across most of our major expense categories."

It's not all sunshine and rainbows for Roblox, however. It should be noted that Roblox laid off around 30 employees in September to help ensure their bottom line. Meanwhile, a class action lawsuit was filed against the company back in August with parents complaining that the developer fosters "an illegal gambling ecosystem" in violation of federal law.