Latest news with #MichaelGuthrie
CNA
7 hours ago
- Business
- CNA
Paramount Global's Naveen Chopra joins Roblox as finance head
Paramount Global's finance head Naveen Chopra will leave to take on a similar role at video gaming firm Roblox, the companies said on Monday. The move comes as Paramount is seeking to close its $8.4 billion merger with Skydance Media, which is pending approval from the U.S. Federal Communications Commission. Andrew Warren, currently Paramount's strategic advisor to the office of the CEO, will take over as interim CFO, the company said. Chopra succeeds Michael Guthrie at Roblox, which is experiencing increased engagement on its platform from its vast Gen Z user base. Guthrie announced last year that he would be stepping down as CFO to pursue personal interests.
CNA
8 hours ago
- Business
- CNA
Paramount Global's Naveen Chopra joins Roblox as finance chief
Paramount Global's chief financial officer Naveen Chopra stepped down from his role on Monday to join video gaming company Roblox as its finance head. Andrew Warren, currently Paramount's strategic advisor to the office of the CEO, will take over as interim CFO, the company said. Roblox said Chopra was succeeding Michael Guthrie, who announced last year that he would be stepping down as CFO to pursue personal interests.
Reuters
8 hours ago
- Business
- Reuters
Paramount Global's Naveen Chopra joins Roblox as finance chief
June 9 (Reuters) - Paramount Global's (PARA.O), opens new tab chief financial officer Naveen Chopra stepped down from his role on Monday to join video gaming company Roblox (RBLX.N), opens new tab as its finance head. Andrew Warren, currently Paramount's strategic advisor to the office of the CEO, will take over as interim CFO, the company said. Roblox said Chopra was succeeding Michael Guthrie, who announced last year that he would be stepping down as CFO to pursue personal interests.
The Star
01-05-2025
- Business
- The Star
Roblox lifts bookings forecast as spending defies tariff uncertainty
FILE PHOTO: The Roblox logo is displayed on a banner, to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermid/File photo (Reuters) - Roblox raised its annual bookings forecast on Thursday and beat quarterly results estimates, a sign that spending on its vast library of user-generated videogames was holding up despite economic uncertainty driven by U.S. tariffs. Shares of the company rose around 5.3% in premarket trading. The platform has aggressively tried to lure deep-pocketed older players with new game genres including horror to boost in-game spending on virtual items. Analysts say its free-to-play model could also help offset a broader pullback in consumer spending. Roblox now expects bookings, a measure of in-game spending, to be between $5.29 billion and $5.36 billion for the full year, compared with its prior forecast of $5.20 billion to $5.30 billion. In the first quarter ended March 31, its bookings rose 31% to $1.21 billion, beating analysts' estimates of $1.14 billion, according to data compiled by LSEG. Loss per share of 32 cents was also smaller than expectations for a loss of 40 cents per share. "It's very clear that the search and discovery algorithms are uncovering more and more content and doing a better job of matching that content to the users... as a result, we're finding more users that are engaging on the platform," outgoing CFO Michael Guthrie told Reuters. Average daily active users, a key measure of engagement, rose 26% to an all-time high of 97.8 million in the quarter, while hours engaged jumped 30%, the most since the first quarter of 2021. The strong engagement and its vast Gen Z user base have allowed Roblox to break into the advertising market, adding a fresh revenue stream as it battles rivals such as Fortnite. As part of its platform push, the company rewards developers of hit games to attract more creators and keep its content-engine running. The Roblox developer community "is on pace to exceed $1 billion of earnings for the full year", CEO David Baszucki said. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Devika Syamnath)
Reuters
01-05-2025
- Business
- Reuters
Roblox lifts bookings forecast as spending defies tariff uncertainty
May 1 (Reuters) - Roblox (RBLX.N), opens new tab raised its annual bookings forecast on Thursday and beat quarterly results estimates, a sign that spending on its vast library of user-generated videogames was holding up despite economic uncertainty driven by U.S. tariffs. Shares of the company rose around 5.3% in premarket trading. The platform has aggressively tried to lure deep-pocketed older players with new game genres including horror to boost in-game spending on virtual items. Analysts say its free-to-play model could also help offset a broader pullback in consumer spending. Roblox now expects bookings, a measure of in-game spending, to be between $5.29 billion and $5.36 billion for the full year, compared with its prior forecast of $5.20 billion to $5.30 billion. In the first quarter ended March 31, its bookings rose 31% to $1.21 billion, beating analysts' estimates of $1.14 billion, according to data compiled by LSEG. Loss per share of 32 cents was also smaller than expectations for a loss of 40 cents per share. "It's very clear that the search and discovery algorithms are uncovering more and more content and doing a better job of matching that content to the users... as a result, we're finding more users that are engaging on the platform," outgoing CFO Michael Guthrie told Reuters. Average daily active users, a key measure of engagement, rose 26% to an all-time high of 97.8 million in the quarter, while hours engaged jumped 30%, the most since the first quarter of 2021. The strong engagement and its vast Gen Z user base have allowed Roblox to break into the advertising market, adding a fresh revenue stream as it battles rivals such as Fortnite. As part of its platform push, the company rewards developers of hit games to attract more creators and keep its content-engine running. The Roblox developer community "is on pace to exceed $1 billion of earnings for the full year", CEO David Baszucki said.
