Roblox Lifts Annual Revenue Outlook As Q1 Result Exceeds Expectations; Pre-Market Stock Up Over 7%

(RTTNews) - Roblox Corporation (RBLX), a video game developer, on Thursday revised up its annual revenue guidance after better-than expected first-quarter result.

For the full year, the company now expects revenue of $4.290 billion to $4.365 billion, higher than the previous outlook of $4.245 billion to $4.345 billion. On average, analysts polled, forecast the firm to post revenue of $5.26 billion for the year.

Excluding items, annual EBITDA is now projected to be in the range of $205 million to $265 million, compared with the earlier expectation of $190 million to $265 million.

For the second quarter, Roblox anticipates adjusted EBITDA of $25 million to $45 million on revenue of $1.020 billion to $1.045 billion, below analysts' expectations of $1.17 billion.

For the first quarter, Roblox has reported a net loss of $215.056 million, or $0.32 per share, narrower than a loss of $270.604 million, or $0.43 per share, posted for the same period last year. Analysts, on average had projected the firm to post a loss of $0.40 per share.

The company's first-quarter revenue moved up to $1.035 billion from $801.300 million in the previous year.

RBLX was up by 7.47 percent at $72.06 in the pre-market trade on the New York Stock Exchange.