Roblox stock after December update shows an increase in bookings

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shares Roblox It closed up 11% on Tuesday after the gaming company released its metrics report for December 2022. It showed estimated bookings ranged between $430 million and $439 million for the month, up 17% to 20% year-over-year.

Roblox calls its revenue number bookings. The company generates revenue from sales of its virtual currency called Robux, which players use to decorate their avatars and buy other premium features in games.

The number of daily active users increased by 18% from December 2021 to 61.5 million users.

The average Roblox bookings per daily active user ranged between $6.99 and $7.14 per month, reflecting a change of -1% to +1% annually.

The December report seemed to encourage investors after Roblox shares closed down 15.7% when the company released its November business update. This report showed a slowdown in growth and a decline in how much it earns from its daily users.

Business manager Craig Donato told CNBC reporter Steve Kovac in August that Roblox is optimistic about the future because of its investment in its employees and global server and data center capacity.

Roblox shares are up more than 30% since the start of the year.

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