The Clap
Roblox (NYSE: RBLX) shares surged more than 19% as the company’s metrics report showed increased users.
The Deets
Daily active users recorded an increase of 23% YoY, to reach 57.8 million users. Hours engaged also saw a YoY increase of 16%, while estimated booking increased by 11%-15% YoY.
Although all of the above metrics quoted a YoY increase, they decreased in comparison to August 2022. The decrease may have come as a result of kids returning back to school.
Why this Matters
The company focused its efforts on growing its user base after the stock reached record highs in 2021.
The pandemic had driven many kids to spend more time on screens, increasing the number of users and the time engaged.
