Bloomberg Intelligence analyst Mandeep Singh thinks that Roblox has the potential to “expand its user base beyond the core 9-13-year-old group faster than larger rival Meta, which saw a decline in user engagement for its Horizon Worlds offering.As CEO David Baszucki told CNBC earlier this year, the company has “so many opportunities to increase monetization,” including advertising and 3D immersive shopping. However, Roblox is still optimistic about its future.The company’s valuation is also down 66% from November 2021, when it peaked at $77.98 billion.Despite the growth, Roblox shares are still down 59% this year amid a selloff trend in tech stocks, a general economic slowdown, and the end of the pandemic’s boost when kids used to spend much more time playing on mobile.According to Bloomberg, it was the company’s biggest one-day jump since November 2021, when it surged 42%. Roblox features full cross-platform support, meaning you can join your friends and millions of other people on their computers, mobile devices, Xbox One, or VR headsets. This added $4.2 billion to Roblox’s market capitalization, which is currently around $26.07 billion.As a result, the company’s stock surged 19.7% on Monday, from $35.58 to $42.61 per share.As the worlds largest social platform for play, over 48 million players come to Roblox every month to create adventures, play games, role play, and learn with friends. How did these numbers affect Roblox shares? Roblox helps power the imaginations of people around the world. It is worth noting that despite the year-over-year growth, September bookings fell from $233-237 reported in August.Roblox cites the strengthening of the US dollar against foreign currencies like the Euro or British Pound as the main reason for the bookings’ growth.Estimated revenue was between $171 million and $180 million, which is down 2% or up 3% year-over-year.
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