RTTNews | Nov 9, 2021 07:10AM EST

07:10 Tuesday, November 9, 2021 (RTTNews.com) - Shares of online entertainment platform provider Roblox Corporation (RBLX) are trading 26 percent higher in pre-market after its third-quarter loss narrowed and surpassed the consensus estimates.

Roblox reported loss per share of $0.13, lower than $0.26 loss reported last year, beating the Street's expectation for a loss of $0.14 per share.

The company also announced strong growth in Daily Active Users, hours and bookings, all increasing close to 30 percent year-over-year.

Revenue increased 102 percent over the previous third-quarter to touch $509.3 million, though lower than the analysts' expectation of $636.5 million. The net loss of $74 million was however wider than $48.6 million recorded in the previous third quarter.

Shares of Roblox closed Monday's trading at $77.00. It is currently trading in pre-market at $97.21, up $20.21 or 26.25 percent from previous close.

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