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On Monday, 17th October 2022, RBLX stock price witnessed a significant growth of about 19%. The surge in stock price followed the release of Roblox’s (RBLX) September 2022 Report of Key Metrics. The online game company has witnessed a drop in specific metrics from August 2022 remaining higher than the year-over-year time frame though. Yet the stock price made a jump.
Roblox’s daily active users (DAU) metrics witnessed a drop reported 57.8 million in September while it was about 59.9 million in August. Somewhat similar case was with the count of overall engaged hours which was earlier 4.7 billion but remained 4 billion for the recent month.
The metrics of estimated bookings also followed the decrease from 233 million USD-237 million USD in August to 212 million USD-219 million USD in September. Average bookings per daily active user which accounted for 3.89 USD to 3.96 USD dropped to 3.67 USD to 3.79 USD. Overall estimated revenue was between 208 million USD to 211 million USD while for this month it reamiend between 171 million USD to 180 million USD.
Despite the drop in monthly metrics, the report shows them to show considerable growth from the past year. This makes complete sense to make the RBLX stock price take an abrupt growth. Meanwhile the company stands at a market capitalization of 23.24 billion USD with the revenue of 1.91 billion USD.
Currently RBLX stock price is up by 17% in the last five days and trading at around 41.44 USD at the press time.
Roblox is an online gaming platform developed by California based Roblox Corporation. The game was witnessing significant growth, especially in young users. With the pandemic hit and people locked at their home resulted in increase for Roblox users and it accelerated gaining customers. The game made people spend their time online seeking a social connection with the outer world.
Potential Events to Push RBLX Stock Further
RedManta Games and Sonar Studios are two largest independent studios behind Roblox and they announced to merge and form a whole new company dubbed as Twin Atlas. Both the companies have been significantly profitable, so much so that they even went for outside funding.
Roblox is one such company which other than boasting about the plans of creating a digital world, has actually built it. Its virtual space took the contribution of its young users and increasing brands and game studios. The growth makes sense given the game generates the revenue of hundreds of millions of dollars every month.
Twin Atlas CEO and former head of Sonar Studios, Samuel Garcia said the pandemic brought a significant boost and advanced everyone at least five years in the future. He defined the scale by giving an example that once a top game would be handling 100 people at a time but today the same top game would seamlessly handle approx 2 million people at once.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
