Roblox forecasts strong 2024 bookings; in-game spending gets holiday boost

Gaming platform Roblox forecast annual bookings above estimates on Wednesday after it crossed $1 billion in quarterly bookings for the first time on higher in-game spending during the holiday season, sending its shares up 15% before the bell.

In a positive sign for the gaming industry, the global video game market is anticipated to grow 2.8% this year, as it expects robust sales of Microsoft’s Xbox and Sony’s PlayStation 5 consoles, according to research firm NewZoo.