Why Roblox Shares Are Popping Off

Roblox Corp RBLX shares are trading higher by 4.76% to $40.06 Thursday afternoon in sympathy with peer metaverse-related stock Meta Platforms Inc. META, which reported strong fourth-quarter results. Meta Platforms on Wednesday reported better-than-expected fourth-quarter revenues, cut its FY23 expense outlook and announced a $40 billion increase in its buyback authorization. DAUs increased 4% year over year.

See Also: Trading Strategies For Amazon Stock Before And After Q4 Earnings

What Happened?

Meta Platforms reported fourth-quarter revenue of $32.17 billion, down 4% year-over-year. The revenue figure came in ahead of a Street estimate of $31.53 billion, according to data from Benzinga Pro.

Meta Platforms reported fourth-quarter earnings per share of $1.76, missing a Street estimate of $2.22. The company said earnings per share would have been $1.24 higher without restructuring charges in the fourth quarter.

The company ended the fourth quarter with 2.96 billion daily active...Read More

RBLX has a 52-week high of $73.71 and a 52-week low of $21.65.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!