Roblox saw $655.3 million in Q1 revenue, with 14.5 billion 'engaged hours'

Roblox Corp. credits its "strong performance" for 2023's first quarter to its player base's user-creator content constantly attracting new users.

Roblox Corp. posted its financial earnings for 2023's first quarter, and it's seen consistent growth across the board. CFO Michael Guthrie said the studio delivered a "strong performance" in its core financial and operating metrics.

Revenue wise, the company saw $655.3 million, up by 22 percent from 2022's fiscal start. Similarly, bookings rose by 23 percent to $773.8 million. In terms of currency basis, both revenue and bookings were respectively up by 24 and 25 percent on a year-over-year basis. 

In terms of hours played in the company's titular Roblox game, it saw 14.5 billion hours played and 66.1 million daily active users. Hours played saw a rise of 23 percent, and daily players rose by 22. 

Roblox Corp. CEO David Baszucki said the company's business growth "demonstrates the success of our creator community...attracting an ever-growing global user base that spans all ages.”

With the high yearly growth rates, Guthrie said Roblox Corp. expects to see "more of our bookings processed through credit cards and prepaid cards which will also have a positive impact on margins.”

Roblox keeps growing across demographics

One of the key highlights stressed by Roblox Corp. was that Roblox the game was growing in players across the globe. The company called out the US and Canada, though it didn't get into particulars on what those North America numbers look like. 

What it did disclose, however, was the game was taking off with users of all ages, especially young adults. For players in the 17-24 age range, growth for 2023's first quarter was up by 35 percent from the previous year. 

Back in February, Roblox Corp. said that age range saw growth by 31 percent. Similarly, those players have been spending plenty of money to continue playing the game over the last five months. 

Roblox's success with young players is particularly notable since it's a metaverse game. Establishing a foothold in that space isn't easy, as fellow competitor Meta is trying to become a bigger player in the space by targeting that young demographic

All the same, the game has received criticism for its resonance with young players. In 2021, People Make Games released a video calling out Roblox for taking advantage of younger users, particularly those who use the platform to create their own games.

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