The New York Stock Exchange welcomes executives and guests of Roblox in celebration of its direct listing, March 10, 2021.
NYSE
Roblox reported results for the fiscal fourth quarter Wednesday that beat consensus estimates on the top and bottom lines. Shares were up 12% in morning trading.
Here’s how the company did:
Losses per share: 52 cents vs. 55 cents expected by analysts, according to LSEG, formerly Refinitiv.
Revenue (bookings): $1.13 billion vs. $1.08 billion expected, according to LSEG.
The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue.
The video game developer generates revenue from sales of its virtual currency called Robux, which players use to dress up their avatars and buy other premium in-game features.
Roblox also reported full-year revenue of $3.52 billion, versus an LSEG consensus estimate of $3.41 billion. The company’s full-year loss per share was $1.87, compared with a consensus estimate of $1.91.
Roblox’s quarterly bookings hit $1.13 billion — the company’s highest ever.
“We enter 2024 with even more conviction of being able to achieve our long-term goal of attracting over 1 billion daily active users with optimism and civility,” Roblox CEO David Baszucki said in a release. The company reported average daily active users, or DAUs, of 71.5 million for the quarter, up 22% compared with the year-ago period.
Roblox’s average DAUs have grown for the past two quarters, after stalled growth in the back half of fiscal year 2022 and a slight slip between the first and second fiscal quarters of 2023.
Average bookings per daily active user increased 3% to $15.75, mirroring a bump that Roblox has historically seen in its fiscal fourth quarter.
“We’re seeing strength, both international as well as older players on the platform,” CEO Baszucki told CNBC’s Steve Kovach, pointing to double-digit growth in both the 13-and-up segment and non-U.S. & Canada segment. “Those are good trends, because those are really big cohorts,” Baszucki said.
The number of engaged hours for users fell from 16 million for the third quarter of 2023 to 15.5 million during the fourth quarter. Still, it represents a 21% spike compared with the year-ago period.
The company provided guidance for 2024 and the first fiscal quarter. The company expects first-quarter bookings between $910 million and $940 million, and a net loss ranging from $342 million to $347 million. It guided to full-year 2024 bookings between $4.1 billion and $4.28 billion, higher than the consensus range of $3.4 billion to $4.27 billion, and a net loss of between $1.37 billion and $1.4 billion.
Personnel costs continue to weigh on the company, although they’ve grown at a slower rate than bookings have. Excluding share-based compensation, quarterly personnel costs grew 24% year over year from $160 million to $198 million, with the sharpest increases reflected in Roblox’s infrastructure and trust and safety teams.
Dara Khosrowshahi, CEO of Uber, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025.
Gerry Miller | CNBC
Ride-hailing and food delivery app Uber is opening its “interest list” to users in Austin, Texas, who want to be first in line for Waymo robotaxis there.
The company said in a statement that users will “be able to travel across 37 square miles of Austin — from Hyde Park, to Downtown, to Montopolis” — when the Uber-Waymo service launches soon.
The so-called “interest list” allows users to receive Uber updates and bolsters their odds of being matched with a Waymo autonomous vehicle upon launch.
The vehicles that will be part of the Austin service are Jaguar iPace electric models equipped with Waymo’s driverless systems and labeled with both Waymo and Uber branding.
The Waymo rides in Austin will only be available through the Uber app, unlike in San Francisco and Los Angeles, where riders hail them through the Waymo One app.
In the face of investor pressure to step up its autonomous vehicle strategy after Tesla promised it would soon start producing robotaxis, Uber last year said it had begun testing a ride-hailing app with some of its employees.
While Tesla does not make vehicles that are safe to use without a human driver at the wheel, ready to steer or brake at all times, Elon Musk’s automaker in January said it will “begin launching” a driverless ride-hailing business “later this year” starting in Austin.
According to the Texas Department of Transportation, testing and operating a commercial robotaxi service in the state does not require the same types of special licenses and permits that other states require.
“Texas law allows for AV testing and operations on Texas roadways as long as they meet the same safety and insurance requirements as every other vehicle on the road,” a spokesperson for the department told CNBC by e-mail.
Uber CEO Dara Khosrowshahi is expected to discuss the impact of automated driving systems — or self-driving cars — on the company’s overall business and strategy on a fourth-quarter earnings call on Wednesday.
Apple shares fell on Wednesday after Bloomberg reported that Chinese regulators are considering whether to open a formal probe into the iPhone giant’s App Store fees and policies.
Shares of Apple were down 2.66% at 09:34 a.m. London time in premarket trading.
The State Administration for Market Regulation (SAMR) is looking into policies that include Apple taking a cut of as much as 30% on in-app spending, as well as blocking third-party payment services and app stores, Bloomberg reported Wednesday, citing people familiar with the matter.
China’s market regulator has not decided whether to formally open an investigation into Apple, according to the report.
Apple and China’s Ministry of Commerce was not immediately available for comment when contacted by CNBC.
Apple has maintained that its strict App Store policies are designed to protect users and improve the experience across its products.
China this week also opened a probe into Google over alleged antitrust violations, although the market regulator did not supply details over the focus of the investigation.
The Financial Times reported on Tuesday that the SAMR is also considering a probe into U.S. chipmaker Intel.
Apple’s App Store has come under scrutiny from regulators globally. It was forced to open up its App Store in Europe, under the sweeping Digital Markets Act in the EU. This means that it now allows non-Apple companies to offer app stores in Europe, and app developers can also use third-party payment systems.
If the China probe goes ahead, it would cause further headache for Apple in one of its biggest markets. The Cupertino giant is already facing stiff competition from local players like Huawei that are eating away at its smartphone market share. Apple sales in Greater China declined 11% year-on-year in the December quarter.
FILE PHOTO: The logo of Toyota is pictured in Cuautitlan Izcalli, Mexico, January 30, 2025
Raquel Cunha | Reuters
Japan’s Toyota Motor on Wednesday reported a second consecutive fall in quarterly profit, while announcing that it will set up a new company in China to make electric vehicles as it plays catch up with automakers focused on EVs.
Here are Toyota’s results compared with estimates from analysts, compiled by LSEG.
Revenue: 12.39 trillion yen vs. 12.1 trillion yen
Operating profit: 1.22 trillion yen vs. 1.39 trillion yen
The world’s largest automaker by sales volume saw anearly 28% year-on-year drop in operating profit during the quarter ended December.
The results mark Toyota’s second consecutive year over year decline in operating profit after the company saw profit fall 20% year over year in the previous quarter.
Net income attributable to the company, however, jumped to 2.19 trillion yen from 1.36 trillion yen a year ago.
The automaker’s consolidated vehicle sales for its financial third-quarter dropped to 2.44 million from 2.55 million units a year ago.
Still, Toyota maintained its full-year dividend forecast at 90 yen, compared with a dividend payout of 75 yen a year earlier.
Toyota said it will establish a wholly-owned company for the development and production of Lexus BEVs and batteries in Shanghai, China. The new company is expected to start production in 2027.
Toyota shares rose over 1% in Tokyo on Wednesday.
The companysaw its operating profit drop in the key North America region by 113.7 billion yen in the December quarter, year on year, while it declined by over 46 billion yen in Asia.
Toyota has been slower than competitors at embracing fully battery-powered electric vehicles, and instead has focused on hybrids, according to local reports.