Roblox Reports First Quarter Revenues of $655 Million, Up 22% Year-Over-Year

On May 11, Roblox, the world's largest online multiplayer creation game platform, announced its first quarter 2023 results, showing revenue of $655 million, up 22 percent year-over-year.

According to the results, Roblox had 427 million daily active users (DAUs), up 37 percent year-over-year; 9.87 billion hours spent on the platform, up 18 percent year-over-year; and $657 million in user dollars spent on the platform (Bookings), up 15 percent year-over-year. Roblox's revenue is primarily generated by the virtual currency users purchase Robux, which is used to purchase game props, subscription services and more on the platform. roblox also shares revenue with developers and creators, to whom it paid $117 million in the first quarter, up 167 percent year-over-year, according to the earnings report.

Roblox said the growth of its platform has benefited from the demand for online entertainment and social interaction during the new crown epidemic, as well as the diversity and innovation of its platform. As of the close of trading on May 11, Roblox shares were trading at $64.72, with a market capitalization of $35.88 billion.

Photo credit: Roblox