Roblox, Inc. (NYSE: RBLX) operates as a global gaming platform, which allows tens of millions of people to interact with their friends within an immersive digital experience. Shares of the digital gaming giant are rallying 21% through early trading on Monday, October 17, 2022. Over the past three months, Roblox has seen average daily volume of 20.43 million shares. However, volume of 39.34 million shares or dollar volume of around $1.69 billion, has already exchanged hands through early trading.

Shares of Roblox are surging after the company reported September 2022 key metrics data, which showed gamers returning to the platform. The company reported active daily users (DAUs) of 57.8 million during the month of September 2022, which represents year-over-year growth of 23%. Hours logged on the Roblox platform jumped 16% y/y to 4 billion hours.

Estimated bookings grew to $219 million from $212 million compared to the year before. Estimated average bookings per daily active user (ABPDAU) were shown to be between $3.67 and $3.79, which represents a decline between 7% and 10% y/y. Overall, Roblox estimates they generated revenue between $171 million and $180 million during the month of September 2022, which provides a year-over-year range between -2% and +3%.

Not surprisingly, Roblox management says the strengthening U.S. dollar throughout 2022 has had an adverse impact on overall bookings. Foreign currency fluctuations are estimated to have led to a reduction of 6% in y/y bookings growth. On a constant currency basis, estimated bookings growth would have showed y/y growth between 17% and 21%.

During the third quarter ended September 30, 2022, Roblox completed a quarterly assessment of its paying user profile. Based on the information gathered, Roblox saw its paying user life estimate increase to 28 months from 25 months during the past two quarters. As a result, July and August 2022 revenue estimates were revised down by approximately $43 million and $38 million, respectively.

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