Bulletins

Roblox revenue soars in first-ever earnings report as a public company

The company reported strong user growth of 79% year over year to 42.1 million daily active users.

Roblox revenue soars in first-ever earnings report as a public company
Online Video-Game Company Roblox Plans IPO
Photo: Gabby Jones/Bloomberg via Getty Images

Gaming giant Roblox reported its first-ever earnings report as a public company on Tuesday, beating Wall Street analysts expectations for revenue but missing on losses. The company reported a net loss for the quarter of $134.2 million, but strong user growth of 79% year over year to 42.1 million daily active users and a revenue jump of 140% year over year to $387 million.


Roblox makes a platform and toolset for user-generated video games, combining elements of Minecraft and other creator-focused games with the features and connectively of massively multiplayer online titles. It is extremely popular in the U.S., where over half of kids under the age of 16 play the game and numerous developers now have entire businesses dedicated to building and maintaining games within the Roblox universe.

The company earns 30% of all transactions that occur in games built on the platform, similar to the cut taken by other app store vendors, while many of the titles on the platform are free-to-play. But Roblox also gives roughly 30% of the revenue it does take to the platform owners that host it, including Apple, Microsoft and Sony. Its unique structure has made the game a focus of the ongoing Epic v. Apple antitrust trial, where the definition of the types of games and experiences Roblox offers on its platform has led to disputes over whether Roblox is in fact operating an app store of its own.

Protocol | Policy

New report shows kids see COVID-19 misinfo on TikTok in minutes

A new report finds that kids as young as 9 are being fed COVID-19 misinformation on TikTok, whether they engage with the videos or not.

NewsGuard researchers asked nine kids to create new TikTok accounts and record their experiences on the app.

Photo: Andrew Harrer/Bloomberg via Getty Images

TikTok is pushing COVID-19 misinformation to children and teens within minutes of creating a new account, whether they actively engage with videos on the platform or not, a new report has found.

The report, published Wednesday by the media rating firm NewsGuard, raises questions not only about how effectively TikTok is enforcing its medical misinformation policies, but also about how its own recommendation algorithms are actively undermining those policies.

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Issie Lapowsky

Issie Lapowsky ( @issielapowsky) is Protocol's chief correspondent, covering the intersection of technology, politics, and national affairs. She also oversees Protocol's fellowship program. Previously, she was a senior writer at Wired, where she covered the 2016 election and the Facebook beat in its aftermath. Prior to that, Issie worked as a staff writer for Inc. magazine, writing about small business and entrepreneurship. She has also worked as an on-air contributor for CBS News and taught a graduate-level course at New York University's Center for Publishing on how tech giants have affected publishing.


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A technology company reimagining global capital markets and economies.
Protocol | China

Beijing meets an unstoppable force: Chinese parents and their children

Live-in tutors disguised as nannies, weekday online tutoring classes and adult gaming accounts for rent. Here's how citizens are finding ways to skirt Beijing's diktats.

Citizens in China are experienced at cooking up countermeasures when Beijing or governments come down with rigid policies.

Photo: Liu Ying/Xinhua via Getty Images

During the summer break, Beijing handed down a parade of new regulations designed to intervene in youth education and entertainment, including a strike against private tutoring, a campaign to "cleanse" the internet and a strict limit on online game playing time for children. But so far, these seemingly iron-clad rules have met their match, with students and their parents quickly finding workarounds.

Grassroots citizens in China are experienced at cooking up countermeasures when Beijing or governments come down with rigid policies. Authorities then have to play defense, amending holes in their initial rules.

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Shen Lu

Shen Lu is a reporter with Protocol | China. Her writing has appeared in Foreign Policy, The New York Times and POLITICO, among other publications. She can be reached at shenlu@protocol.com.

Protocol | Policy

Google and Microsoft are at it again, now over government software

The on-again, off-again battle between the two companies flared up again when Google commissioned a study on how much the U.S. government relies on Microsoft software.

Google and Microsoft are in a long-running feud that has once again flared up in recent months.

Photo: Jens Tandler/EyeEm/Getty Images

According to a new report commissioned by Google, Microsoft has an overwhelming "share in the U.S. government office productivity software market," potentially leading to security risks for local, state and federal governments.

The five-page document, released Tuesday by a trade group that counts Google as a member, represents the latest escalation between the two companies in a long-running feud that has once again flared up in recent months.

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Ben Brody

Ben Brody (@ BenBrodyDC) is a senior reporter at Protocol focusing on how Congress, courts and agencies affect the online world we live in. He formerly covered tech policy and lobbying (including antitrust, Section 230 and privacy) at Bloomberg News, where he previously reported on the influence industry, government ethics and the 2016 presidential election. Before that, Ben covered business news at CNNMoney and AdAge, and all manner of stories in and around New York. He still loves appearing on the New York news radio he grew up with.

People

Facebook wants to kill the family iPad

Facebook has built the first portable smart display, and is introducing a new household mode that makes it easier to separate work from play.

Facebook's new Portal Go device will go on sale for $199 in October.

Photo: Facebook

Facebook is coming for the coffee table tablet: The company on Tuesday introduced a new portable version of its smart display called Portal Go, which promises to be a better communal device for video calls, media consumption and many of the other things families use iPads for.

Facebook also announced a revamped version of its Portal Pro device Tuesday, and introduced a new household mode to Portals that will make it easier to share these devices with everyone in a home without having to compromise on working-from-home habits. Taken together, these announcements show that there may be an opening for consumer electronics companies to meet this late-pandemic moment with new device categories.

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Janko Roettgers

Janko Roettgers (@jank0) is a senior reporter at Protocol, reporting on the shifting power dynamics between tech, media, and entertainment, including the impact of new technologies. Previously, Janko was Variety's first-ever technology writer in San Francisco, where he covered big tech and emerging technologies. He has reported for Gigaom, Frankfurter Rundschau, Berliner Zeitung, and ORF, among others. He has written three books on consumer cord-cutting and online music and co-edited an anthology on internet subcultures. He lives with his family in Oakland.

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