Youth-centric video game platform Roblox (RBLX) on Wednesday beat analyst estimates for the fourth quarter and guided higher than views for the current quarter and full year ahead. Roblox stock jumped in early trading.

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The San Mateo, Calif.-based company lost 52 cents a share on bookings of $1.13 billion in the December quarter. Analysts polled by FactSet had expected Roblox to lose 55 cents a share on sales of $1.05 billion. In the year-earlier quarter, Roblox lost 48 cents a share on sales of $899 million.

The company has been investing heavily to build out its version of the metaverse, a 3D virtual space for people to socialize and play games. The Roblox online platform is home to over 5.5 million active immersive experiences from gaming to social hangouts, to concerts, sports, fashion shows, education and entertainment.

For the current quarter, Roblox expects to generate bookings of $925 million, based on the midpoint of its outlook, vs. Wall Street’s target of $903 million. For full-year 2024, it forecast bookings of $4.21 billion, topping views for $4.06 billion.

Roblox Stock Jumps After Report

In premarket trades on the stock market today, Roblox stock  jumped 12.8% to 45.80.

Earnings report details to follow.

Roblox stock ranks sixth out of 20 stocks in IBD’s Computer Software-Gaming industry group, according to IBD Stock Checkup. RBLX stock has an IBD Composite Rating of 55 out of 99.

Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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