Summary by Moomoo AI
Roblox Corporation (Roblox) reported a 31% year-on-year increase in revenue for the quarter ended June 30, 2024, reaching $893.5 million, primarily due to higher amortization of prior period deferred revenue and an increase in bookings. The company's net loss decreased from $284.8 million in Q2 2023 to $207.2 million in Q2 2024, with a basic and diluted net loss per share improving from $0.46 to $0.32. The average number of daily unique paying users rose from approximately 790,000 to 983,000. Cost of revenue and developer exchange fees also increased, reflecting higher payment processing fees and amounts earned by developers and creators, respectively. Roblox's joint venture with Tencent Holdings, Roblox China Holding Corp., issued $30.0 million in debt, maturing in 2026, with an option to extend by two years. The company continues to...Show More