Why Roblox Shares Are Rising

Roblox Corp RBLX shares are trading higher after the company reported better-than-expected third-quarter EPS results. The company also reported third-quarter DAUs were up 31% year over year.

Roblox reported quarterly losses of 13 cents per share which beat the analyst consensus estimate of a loss of 14 cents per share. Roblox also reported quarterly sales of $509.30 million.

“Engagement is our north star. We’re very pleased that during the third quarter, people of all ages from across the globe chose to spend over 11 billion hours on Roblox,” said David Baszucki, Chief Executive Officer of Roblox.

“We are happy to report that the developer community earned over $130 million in the quarter and is on pace to earn well over $500 million this year. As we finish 2021 and head into 2022, we will continue to invest in innovative technology to enable our developer community to do what they do best - build and create,” Baszucki added.

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Roblox has a 52-week high of $103.87 and a 52-week low of $60.50.