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Roblox Q1 Earnings Preview: Analyst Estimates, Advertising Growth, Key Items To Watch
Gaming company Roblox Corp. (NYSE:RBLX) will report first-quarter financial results before market open on May 9, 2024.
Here are the earnings estimates, what analysts are saying and key items to watch.
Earnings Estimates: Analysts expect Roblox to report first-quarter bookings of $922.98 million according to estimates from Benzinga Pro.
The company reported bookings of $773.8 million in last year's first quarter. Bookings of $1.13 billion in the fourth quarter were a company record. Roblox has beaten analysts' estimates for bookings in four of the last five quarters.
Analysts expect Roblox to report a loss of 53 cents per share in the first quarter, compared to a loss of 44 cents per share in last year's first quarter. The company has beaten analysts' earnings per share estimates in three of the past five quarters.
Guidance from the company calls for first-quarter bookings between $910 million and $940 million and revenue between $755 million and $788 million.
Roblox guided for full fiscal year 2024 bookings to be in a range of $4.14 billion to $4.28 billion. Full-year revenue was guided to be in a range of $3.30 billion and $3.40 billion.
What Analysts Are Saying: Roblox's efforts to increase new advertisers on its platform is a positive mentioned by JPMorgan analyst Cory Carpenter.
The analyst recently upgraded Roblox shares from Neutral to Overweight ...