HomeFinancial MarketsRoblox Stock Jumps 22% Amid Positive Metrics Report

Roblox Stock Jumps 22% Amid Positive Metrics Report

Roblox, the creator of a super popular online game platform and game creation system of the same name, is having a great start to the week. Roblox stock has been on an upward trajectory on Monday, reaching $43.36 per share at one point. This represents a 22 percent jump compared to the $35.55 close on Friday.

Roblox’s shares are surging as a result of the positive metrics report for September that the company released on Monday morning. Among the key metrics, the report revealed is the growth in daily active users compared to the year before. The Roblox platform had 57.8 million daily active users, representing a 23 percent growth.

According to Roblox, they also had 4 billion engaged hours in September, which is 16 percent more year over year. Also, the bookings are up to $212 million and $219 million; an increase of 11 percent to 15 percent compared to the same period in 2021.

While these numbers look great when compared to last year, they are still slightly disappointing in comparison to the month before. In August, Roblox had 59.9 million daily active users and 4.7 billion hours engaged. However, the dip might be a result of kids returning to school and spending less time in front of their computers, which is why investors don’t seem to be worried.

Brazil’s October Job Creation Falls Short of Expectations

Brazil's Labor Ministry released its formal net jobs creation data on Tuesday, showing a net gain of 159,454 jobs for the month of October....

Apple to Lose Millions of iPhones Due to Factory Turmoil

Apple Inc. is set to incur a production shortfall of up to six million iPhones following Covid-related turmoil at the company's key manufacturing hub...

Saudi Aramco Begins Exploring $1 Billion IPO

Saudi Aramco Base Oil Co., the refining unit of the state-owned Saudi oil company, has begun planning for its initial public offering (IPO) on...