Roblox stock soared 16% Thursday after the company reported second-quarter revenue that beat expectations amid strong user growth.
The gaming platform saw $1.44 billion in net bookings, up 51% over the year prior. Analysts polled by LSEG expected $1.24 billion in net bookings for the quarter.
User and engagement numbers were also strong for the company, with daily active users at 111.8 million, up 41% year-over-year, and hours engaged at 27.4 billion, up 58% year-over-year.
StreetAccount expected 106 million DAUs.
"Our year on year growth this quarter is a reflection of our strategic investments in infrastructure and performance, discovery, and the virtual economy, which continue to create fertile conditions for creators to thrive as part of a healthy, interconnected ecosystem," said CEO David Baszucki in a release.
Baszucki added that the company is looking to grab 10% of the global gaming content market.