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Roblox hit a record $680.8 million in revenue in the second quarter of 2023

According to its most recent financial report, Roblox achieved a revenue of $680.8 million in Q2 2023, marking a 15% rise from its Q2 2022 revenue of $591.2 million.

The report also indicates a substantial increase in bookings, totaling $780.7 million for the quarter, representing a growth of 22% compared to Q2 2022.

Engagement on the platform exhibited robust year-on-year expansion, with a noteworthy 25% boost in average daily active users (DAU), totaling 65.5 million. Additionally, the number of hours users spent engaged with the platform increased by 24% to reach a total of 14 billion.

Average monthly unique paying users also displayed a significant year-on-year increase of 19%, reaching 13.5 million users.

The average bookings per monthly unique paying user amounted to $19.32, signifying a 3% upswing compared to the same period in 2022. Conversely, the average bookings per daily active user (ABDAU) witnessed a 3% decline year-on-year, settling at $11.9.

Founder and CEO David Baszucki commented, "We are consistently achieving remarkable organic growth in DAUs, hours, and bookings. Our user base spans various age groups and geographic regions. Our focus remains on expanding our product leadership to provide value to creators and brands, as well as delivering more innovative and immersive avatars and experiences for our users."

Michael Guthrie, the Chief Financial Officer, highlighted, "This marks our second consecutive quarter with year-over-year bookings growth in the low-20s. During this period, we formulated strategies that we believe will enable us to optimize operational efficiency against infrastructure costs and expenditures related to safety and trust, starting from the upcoming quarter, as well as against compensation expenses beginning in Q1 of 2024."

In its shareholder communication, Roblox emphasized the fact that daily active users are growing across various demographics and regions. The platform's DAU count nearly doubled compared to Q2 2020, a period characterized by a surge in user activity due to the emergence of the Covid-19 pandemic. Given Roblox's widespread reach across age groups and geographic locations, the company holds confidence in the potential for the platform to eventually support up to one billion DAUs.

Source: Lewis Rees, Staff Writer at PocketGamer

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