CNN —Many adults heard the phrase “Robux” for the first time last holiday season when the virtual currency of gaming platform Roblox landed on the top of most wish lists.
And it will have to prove to Wall Street there’s more growth up ahead.
In its fourth quarter of 2023, Roblox revenue was $750 million, up 30% year-over-year – but had a net loss of $323.7 million.
Like Fortnite, Roblox is also moving ahead with a“payout to creators” business model.
“It’s clear that [Roblox] intends to go after younger gamers in 2024 and 2025,” Ward said.
Persons:
”, Roblox, Matilda Beinat, Lindsey Nicholson, UCG, David Baszucki, Ralph Lauren, Mike Proulx, Forrester, “, ” Proulx, Michael Nagle, ” Beinat, Lewis Ward, ” Ward, Ward
Organizations:
CNN, Investors, ABI Research, “, Gaming Center, Costco, Brookhaven RP, Nike, Walmart, New York Stock Exchange, Bloomberg, Getty, Apple’s, IDC, Disney, Pixar, Marvel, Star Wars
Locations:
Asia, Roblox, New York, Fortnite