Roblox earnings explosion sends shares up most since February 2023

Video game platform Roblox posted a good old-fashioned beat-and-raise in its Q3 report Thursday, as results for both bookings and earnings per share exceeded expectations. It also offered a better-than-expected forecast for fourth-quarter bookings. Roblox emphasizes bookings over traditional revenue, as bookings — which is mostly made up of sales of the platform's virtual currency through one-time purchases or monthly subscription plans — account for the fact that a large portion of its revenue is recognized over time rather than in one sale.

Additionally, it reported a significant bump in daily active users, up 27% to hit nearly 89 million players.

Bookings up 34%

Daily active users up 27%

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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