Roblox Enjoys Massive Financial Gains Just Days After a Prolonged Outage
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The Roblox corporation has achieved a ground-breaking achievement in the third quarter of 2021, despite the recent outage. A couple of weeks ago, gamers worldwide reported Roblox’s servers were not working, and the title was inaccessible. This worldwide outage lasted for 3-days and caused the studio to miss out on millions of dollars.
After staying inactive for nearly 3 days, the developers were finally able to bring the game back online. However, it had no ill impact on the financial standing of the title in the third quarter. The online multiplayer title has seen a massive hike in stock with reports causing it to swell upward by 27%.
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ROBLOX has recorded a massive 101% revenue gain in the third quarter
The studio shared fiscal reports about the third quarter’s performance on its official website. The information shared on the report clearly states that the outage had no impact on the game’s performance; the title is more popular than ever, as daily active users, players’ spending, hours engagement, and net bookings have all swelled up significantly. Below are some details.
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- Revenue increased 102% over Q3 2020 to $509.3 million
- Net loss attributable to common stockholders for Q3 2021 was $74.0 million
- Net cash provided by operating activities of $181.2 million; Free cash flow increased 7% over Q3 2020 to $170.6 million.
- Bookings increased 28% over Q3 2020 to $637.8 million
- Average Daily Active Users (DAUs) were 47.3 million, an increase of 31% year over year:
- Hours Engaged were 11.2 billion, an increase of 28% year over year
- Average Bookings per DAU (ABPDAU) was $13.49
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The studio also shared a letter to shareholders to speak at great length about plans for the future. Meanwhile, Roblox’s Chief Executive Officer, David Baszucki, expressed his thoughts about the game’s performance in the third quarter. He stated that he is very happy with the way the gaming community has reacted to the title and he is happy to see the continued worldwide support.
“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, 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.”
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It is safe to say that Roblox is not taking a pit stop anytime soon. And it could become a serious contender for other major players like Valorant, League of Legends, Fortnite, Apex Legends, and more.
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