Roblox (NYSE:RBLX) stock is on the rise Tuesday after the company provided metrics for the month of December.
The big news exciting investors in RBLX stock today has to do with the company’s bookings for the month. Roblox estimates that bookings ranged between $430 million and $439 million. That represents a 17% to 20% increase year-over-year (YOY).
To put this in perspective, Wedbush analyst Nick McKay expected bookings of $393.5 million. Wall Street was also looking for bookings for the month to come in at $410.4 million. Roblox beat both of those estimates.
In addition to that, the company said that the estimated average bookings per daily active user (DAU) is between $6.99 and $7.14. This represents a -1% to 1% YOY change for the metric.
More Metrics Moving RBLX Stock
Other details worth noting from the release is the company’s DAUs increasing 18% YOY to 61.5 million. Hours users were active on the gaming platform came in at 4.7 billion as well, a 21% increase from December 2021.
Finally, Roblox reported an estimated revenue of $189 million and $199 million for December 2022. That’s a decline of between 1% and 6% YOY. The company also noted that it’s discontinuing its monthly metric reports following its March 2023 release in April 2023.
RBLX stock traders are reacting positively to the news with heavy trading of shares. As of this writing, more than 15 million shares have changed hands. That’s already above the company’s daily average trading volume of about 14.7 million shares.
RBLX stock is up 11.5% as of Tuesday morning.
Investors on the lookout for more of the latest stock market news are in luck!
InvestorPlace is home to all of the hottest stock coverage traders need to know about on Tuesday! A few examples include what’s happening with shares of Carvana (NYSE:CVNA), Bed Bath & Beyond (NASDAQ:BBBY) and Tritium (NASDAQ:DCFC) stock today. You can catch up on all of that at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.