Roblox Corp.’s stock rose in the extended session Monday after the social-gaming platform reported its first results as a public company.
shares rose 4.5% after hours, following a 5.3% drop in the regular session to close at $64.33.
The company, which began publicly trading its shares two months ago, reported a first-quarter loss of $134.2 million, or 46 cents a share, compared with a loss of $74.6 million, or 44 cents a share, in the year-ago period.
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Roblox reported that revenue rose to $387 million from $161.6 million in the year-ago quarter, while bookings grew to $652.3 million from $249.6 million in the year ago period. Roblox defines bookings as “revenue plus the change in deferred revenue during the period and other non-cash adjustments.” The importance of bookings comes into play as the company sells virtual currency on its site that may be considered deferred revenue.
Analysts, on average, forecast adjusted earnings of 8 cents a share on revenue of $573.1 million, and “new orders value” of $568.7 million. Roblox did not provide adjusted bottom-line per-share results.
“Our first-quarter 2021 results enabled us to continue investing aggressively in the key areas that we believe will drive long-term growth and value, specifically hiring talented engineering and product professionals and growing the earnings for our developer community,” said Michael Guthrie, Roblox chief financial officer, in a statement.