Roblox, the online game creation platform, generated $454.1 million in revenue in Q2 2021 — a 127% increase compared to the same period a year ago.
The quarter was driven by a jump in daily active users, which reached 43.2 million in the second quarter, up 29% year-over-year.
Despite the growth, Roblox missed Wall Street estimates. The company reported bookings of $665.5 million in Q2, shy of the average estimate of $683.3 million.
The latest earnings add to a busy first half of the year for Roblox:
- Roblox went public in March at a $41.9 billion valuation after multiple delays following scrutiny by the SEC regarding how revenue is recognized in its finances.
- Last month, it announced a partnership with Sony Music Entertainment to bring Sony recording artists into the Roblox metaverse.
- On Monday, it acquired Guilded, a company focused on building a platform to connect gaming communities. The service competes with messaging giant Discord.
However, Roblox still has some legal issues to sift through.
The National Music Publishers’ Association, on behalf of a number of music publishers, sued Roblox for $200 million in June due to an alleged failure to compensate writers or copyright holders for songs used on the platform.