Roblox’s revenue rose by 140% to bring in $387 million as revenue. This the company’s first earnings report after it went public in a direct listing in March.
The popularity for the gaming app rose as schools were shut as sports teams suspended games due to the pandemic. The company lost 46 cents per share and has a net loss of $134.2 million for the quarter. This worked well for the company in the stock market. Roblox began trading at $64.50, which was a 43% increase from the company’s last private financing round in January.
In the first quarter, there was a 79% increase in daily active users for the company, compared to the previous year. This translated to $652.3 million in bookings.