By Senad Karaahmetovic 

Shares of Roblox (NYSE:) are buying and selling greater than 16% in pre-market Wednesday after the corporate delivered better-than-expected outcomes for its fourth quarter.

Roblox a loss per share of $0.48 on income of $579 million. Analysts had been anticipating a loss per share of $0.51 on income of $615.5M. Nevertheless, bookings – which usually refers back to the worth of contracts signed with prospects – got here in at $899.4M, beating the analyst expectations of $876.2M.

Roblox additionally reported $183M in adjusted EBITDA, crushing the common analyst estimate of $97.4M.

“Bookings accelerated meaningfully in December and January, with yr over yr progress exceeding 20% in each months. Progress was sturdy throughout all geographies and age teams with explicit power amongst customers above 17 years previous,” mentioned Michael Guthrie, Chief Monetary Officer of Roblox.

“As bookings re-accelerated late in 2022, we noticed instant enhancements in adjusted EBITDA margins. For the total yr, we had been capable of make vital investments in infrastructure and belief and security largely out of money circulation from operations.”

The variety of each day energetic customers (DAUs) got here in at 58.8M, up 19% year-over-year. The common bookings per DAU (ABPDAU) was $15.29, down 2% YoY.

Roblox additionally disclosed how the enterprise carried out in January. Estimated income was up 22-24% YoY to $213-216M. Estimated bookings elevated 19-21% to $267-271M. Common DAUs had been 65M, representing a rise of 19% YoY.

“2022 was a yr of innovation and invention for Roblox,” mentioned David Baszucki, Founder and CEO of Roblox. “With 65 million each day energetic customers in January, we’re driving in the direction of our imaginative and prescient to reimagine the best way individuals come collectively by enabling deeper types of expression, communication and immersion.”

The corporate additionally introduced that it’ll stop publishing month-to-month metrics.

Roblox inventory was already up 25% year-to-date heading into earnings.