Roblox Nine-Month Revenue Soars by 30% to $2.6 Billion, But Still No Profits

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Roblox is riding a wave of strong revenue growth and user engagement this year. The gaming giant`s nine-month revenue soared by 30% year-over-year and hit record highs, yet it remains deep in the red.

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According to data presented by Betideas.com, Roblox`s nine-month revenue soared by 30% to $2.6 billion, but the company still reported a $720 million net loss for the period.

High Operational and Development Costs Continue to Overshadow Roblox`s Growth

Since its 2006 debut on PCs, Roblox has become a global phenomenon, drawing millions with its groundbreaking user-generated content model. Over the past 18 years, it has attracted more than 18 million active creators and established itself as a go-to platform for gaming innovation. But behind the scenes of this success story lies a different financial reality.

Despite the massive user base, billions of engagement hours, and surging revenue, the company has been reporting net loss quarter after quarter, showing its path to profitability is still very uncertain.

According to its latest earnings report, published in October, Roblox Corporation grossed $2.6 billion in the nine months of the year, 30% more than in the same period last year and the strongest nine-month figure in the company`s history.

This double-digit growth was driven by a 23% increase in daily active users and a 22% rise in engagement hours. In Q3 2024, Roblox had close to 89 million daily active users, 18 million more than in the same period last year. This massive user base spent a whopping 20.7 billion hours playing Roblox games, three billion more than in Q3 2023. The platform also cashed in from its investments in AI tools and support for creators, improving game quality and boosting user spending​.

But despite a record-breaking nine-month revenue, Roblox reported a hefty $720 million net loss, 14% less than in the same period last year, proving the company`s financial journey remains as complex as it is promising.

Stock Value Surges by $8 Billion Despite Challenges

Despite its ongoing hurdles, Roblox’s strategic focus on new monetization efforts, including its foray into the metaverse, has helped restore investor confidence. Over the past year, the company’s stock value climbed from $25.5 billion to $34.2 billion, showing a substantial $8 billion increase. While still a far cry from its November 2021 peak of $71 billion, this steady growth proves renewed market faith in Roblox’s long-term potential.

In comparison, Japanese gaming giant Nintendo outpaced Roblox with a $15 billion year-over-year gain, while Electronic Arts followed closely with a $6 billion increase.