Games platform Roblox saw its revenue more than double to $509.3 million for the three months ending September 30th, 2021.
The firm reported a 102 per cent increase in revenue year-on-year, with bookings rising 28 per cent to hit $637.8 million. Roblox also reported a $74 million net loss.
The platform attracted 47.3 million daily active users on average for the period, a 31 per cent increase, with users spending $13.49 each.
“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,” CEO David Baszucki said.
“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.”
Roblox’s results saw the company’s stock spiking in value by almost 30 per cent in after-hours trading. At the time of writing, pre-market trading pegs the firm’s share price at $93.30, 21.17 per cent above its closing price last night.