Roblox boasts 'exceptional' revenue and players for 2024's third quarter

Roblox Corp. posted its financials for this year's third quarter, which CEO David Baszucki called "exceptional" thanks to key financial and operational metrics growing at "high rates" well above the guidance the company posted during the second quarter.

As of September 30, 2024, the company made $919 million in net sales and bookings of $1.12 billion, up by 29 percent and 34 percent respectively compared to the previous year. Daily Active Users (DAUs) rose by 27 percent year-over-year to 88.9 million, and hourly engagement figures hit 20.7 billion, an increase of 29 percent.

This growth, Baszuscki said, "demonstrate[s] the strength of our platform and the effectiveness of our growth strategies. We’re particularly proud of the progress we’ve made in empowering creators, fostering social connections, and expanding our global reach."

Roblox's console growth

In the shareholder letter, Roblox Corp noted this quarter's bookings saw "unusually high" growth from consoles thanks to Roblox's launch on the PlayStation 4 in late 2023. Console bookings made up 8 percent of overall bookings for the quarter, and non-console (read: PC, tablet, mobile) bookings grew by 28 percent compared to the previous year.

According to Roblox Corp., Roblox's hourly engagement has grown "slightly faster" than its DAUs over the past six years, and the bookings grew faster than hours. That engagement goes up "as Roblox content has improved and DAUs increased in tenure," and more users become payers "over time as content has improved and platform functionality has expanded."

Later in November, the company will reportedly roll out new child safety measures following multiple reports of young Roblox players being exposed to harmful or sexual content. Those reforms include making it so players age 13 or younger are required to have parental permission to access in-game chat features, and letting parents create an account type to monitor their child's friends and in-game activity.

While stressing the safety of its game, Roblox Corp.'s letter noted its "highest priority is to create one of the safest online environments for users. [...] We are deeply troubled by any incident that endangers our users and take concerns about safety on the platform extremely seriously."

It further stated it will offer more information on the new safety reforms ahead of the rollout, and highlighted its human moderators and automated tools, as well as partnerships with child safety groups.

"We will continue to invest in technology, policies, and partnerships to pursue the highest standards of trust and safety on our platform," it wrote. "We understand there is always more work to be done, and we are committed to taking steps to make Roblox a safe and positive environment for all users."