Roblox Shares Surge on Strong Bookings, User Growth

Roblox Corp. shares hit a record high after the popular video-game company reported daily active users and bookings in the second quarter that beat analysts’ expectations. Roblox’s record-breaking game Grow a Garden spurred much of the growth, attracting 22 million concurrent users in July.

Roblox surpassed 100 million daily active users for the first time ever, the San Mateo, California-based company said in a statement Thursday. Its 111.8 million daily users beat analysts’ estimates of 110.95 million. The company is rapidly increasing its users over 13, part of a strategy to reach an older demographic of players who are able to spend more money on the platform.