Meanwhile, Roblox’s costs continue to soar. The firm’s bookings grew less than expected. The company’s operating loss widened badly. Roblox’s most recent earnings report hammered this point home. This makes it one of those metaverse stocks to avoid in August. This is perhaps due to the low quality of Roblox’s graphics compared to the products of larger video game studios. Roblox has struggled to expand its user base beyond children and teenagers. Simply put, it appears to be more of a niche application rather than something that can conquer a mass market of video gamers. However, as time marches forward, it’s becoming increasingly clear that Roblox is unlikely to be a long-term winner. Roblox will trade under RBLX, with its direct listing due to offer shares in the company to the public from March 10, or thereabouts.Early on in the metaverse investment theme, Roblox (NYSE: RBLX) was a popular pick to take advantage of the trend. Roblox was one company that benefited from 2020's lockdowns and social distancing measures, with social events held on its platform including concerts from Billie Eilish, Lizzo, and even the debut of a Lil Nas X single to 30 million viewers. It reported $924 million in revenue representing a year-on-year growth of 82%, as well as 32.6 million daily active users for a year-on-year growth of 85%. In the latest statement of its finances presented prior to going public, Roblox has shown massive growth through 2020. It's popular with younger gamers and regularly posts impressive earnings statistics, such as lifetime revenue of over $2 billion on mobile platforms alone. Roblox functions more as a platform than a game, with third-party devs able to create and release their own experiences onto the platform. Now Playing: What The Heck Is Going On With GameStop By clicking 'enter', you agree to GameSpot's
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