Business

Roblox Soars 43% on First Day of Trading as Gaming Booms


Sony, which released the PlayStation 5 in November, recently reported a 62 percent profit jump while Microsoft tallied $5 billion in quarterly gaming revenue for the first time, helped by sales of its new Xbox devices .


David Baszucki, Roblox’s chief executive and a founder, said Wednesday in an interview that he does not expect the platform to hemorrhage players when the pandemic ends and children return to playing with friends outside.


Anne Shoemaker, 21, a developer who makes Roblox games and virtual items, said she had earned more than $500,000 from the platform, most of it since the pandemic began.Credit...Gabriela Hasbun for The New York Times


At an investor event last month, Craig Donato, the company’s chief business officer, said Roblox was trying to add more users, largely by appealing to international audiences and older gamers.


The eventual goal, the company has said, is to create a “metaverse,” a concept mostly reserved for science fiction that describes a shared online universe where people can live and interact as though they were there in person.


“Just as the mail, the telegraph, the telephone, text and video are utilities for collaborative work, we believe Roblox and the metaverse will join these as essential tools for business communication,” Mr. Baszucki said during the investor day.






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