"We've now done over 200 brand activations on the platform. One of the more popular gaming sites for teens and tweens, it expects to make revenue this year from its advertising initiatives, which include advertisers like Spotify and H&M. The company's results come on the heels of downbeat forecasts from Electronic Arts and "Grand Theft Auto" publisher Take-Two.
Roblox reported a loss of 46 cents per share, slightly more than a loss of 45 cents per share estimated by analysts. The company, popular for games such as "Adopt Me!" and "Brookhaven", posted net bookings of $780.7 million in the quarter, missing analysts' average estimate of $784.9 million, according to Refinitiv data. Roblox, which operates a metaverse – an emerging virtual space where people play games and make transactions - reported 65.5 million daily active users in the quarter, with a long-term goal of reaching 1 billion daily users.
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