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Online gaming platform Roblox Corp. posted a wider net loss in the first quarter of the year, even as revenues climbed during the period.
Source: Roblox
RBLX is up 9.40%, while METV is down 1.86%.
The consolidated net loss for the first quarter stood at $162.020 million, wider than the $136.103 million in the same quarter in 2021. The net loss per share attributable to common stockholders was $0.27 from $0.46.
Revenues for the quarter were recorded at $537.134 million, wider than $386.976 million. Total cost and expenses increased to $688.745 million from $522.032 million in the first three months of 2021.
April revenues stood between $189 million to $192 million, reflecting an annual increase of between 30% to 32%. Bookings stood between $221 million and $224 million, down 8% to 10% year-on-year.
Daily active users for the month increased by 23% to 53.1 million, while hours engaged posted annual growth of 18% to 3.8 billion.
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