Roblox stock spiked on Wednesday after the videogame platform posted a smaller-than-expected loss and strong bookings.The online gaming company posted a net loss of 45 cents a share for the third quarter ended September. Analysts tracked by FactSet had penciled in 49-cent in loss. Revenue was $713 million, up 38% from a year ago, but lower than analysts forecast of $825 million.
That said, bookings, a key metric for the company that essentially measures sales of the virtual currency on its platform, was $839.5 million, up 20% from a year ago. “Bookings growth was particularly strong in Western Europe and East Asia. The U.S. and Canada still accounted for the majority of bookings growth in dollar terms among all regions,” said Michael Guthrie, chief financial officer of Roblox
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