Why Roblox Stock Is Surging Today

Roblox Corp RBLX shares are trading higher Tuesday after the company reported key metrics for December. 

What Happened: Roblox said its daily active users in December jumped 18% year-over-year to 61.5 million. Hours engaged climbed to 4.7 billion last month, up 21% year-over-year. 

Roblox estimated that December revenue was between $189 million and $199 million, representing an approximate decline of 1% to 6% year-over-year. Estimated bookings were between $430 million and $439 million, up 17% to 20% year-over-year.

Roblox said the strengthening of the U.S. Dollar against foreign currencies during 2022 had an adverse impact on revenue, bookings and average bookings per daily active user.

Roblox plans to continue publishing monthly metrics through March, but will then discontinue releasing metrics on a monthly basis. 

Roblox operates an online video game platform that lets gamers create, develop and monetize games for other players.

From Last Month: Why Jim Cramer Thinks Roblox Is Still 'Too Expensive,' After Stock Down 72% Year-To-Date

RBLX Price Action: Roblox has a 52-week high of $82.45 and a 52-week low of $21.65.

The stock was up 14.8% at $38.13 at time of publication, according to Benzinga Pro.

Photo: courtesy of Roblox.