Exploring 'Minecraft Dungeons'
New York (CNN Business)Popular tween gaming platform Roblox filed to go public on Thursday. The company declined an interview, citing a quiet period.
The company reported revenue of $589 million and an operating cash flow of $345 million for the nine months ending in September. It is not yet profitable, reporting a net loss of $203.2 million in the nine months ending in September, according to the IPO filing.
If you’ve never heard of Roblox, that may be because you’re not a tween. The entire platform is made up of user-generated games, many of them created by children and teens who have made millions of dollars through the platform. About 75% of American children ages 9 through 12 play Roblox regularly with friends, according to the company.
During the pandemic, kids have flocked to Roblox to throw virtual birthday parties and other in-game events that were no longer safe to hold in-person. In July, gamers spent 3 billion hours playing Roblox, twice as much time as in February.
Roblox is also big business. In October, it reached $2 billion in lifetime revenue just from mobile players.
This story is developing.
Cramer's lightning round: Workhorse has got momentum
- It's that time again! "Mad Money" host Jim Cramer rings the lightning round bell, which means he's giving his answers to callers' stock questions at rapid speed.
Workhorse: "Workhorse has got that momentum that I see periodically. I think Workhorse is really a show horse … It is basically a technology company that builds high-performance electric vehicles, and people love that so much. I'm not going to get in the way anymore. I'm too jaded. Go ahead. Buy Workhorse."
Pacific Ethanol: "Too speculative. … I'm not into an ethanol-based economy. Buy Deere. If you like ethanol, buy Deere."
Frequency Therapeutics: "Very speculative. Degenerative disease play, but you know what, I think it can be your speculative one in your portfolio, and I have no problem with that."
Rackspace Technology: "No, they've missed too many quarters. … I've got so many different technology companies in my head that I think are better than this one. Buy Cisco."
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Google Updates Pay App To Include Bank Accounts
Tech giant Google on Wednesday unveiled an updated Pay app, which will now allow users to open bank accounts, pay friends and manage budgets.
Google partnered with Citi and Stanford Federal Credit Union to launch the mobile bank accounts and said it plans to add 11 new partner institutions next year. Google Pay will also let users send peer-to-peer payments.
Caesar Sengupta, General Manager & VP, Google said, ” Today we’re taking an important step forward in our quest to make money simple, secure and helpful. Starting in the U.S., we’re launching a redesigned Google Pay app on Android and iOS. The new app is designed around your relationships with people and businesses. It helps you save money and gives you insights into your spending. It’s built with multiple layers of security to keep your money and information private and safe. And in 2021, it will give you the chance to apply for a new kind of digital bank account with trusted financial institutions.”
User will also receive promo offers and discounts from Burger King, Etsy, REI Co-op, Sweetgreen, Target, Warby Parke and more through Pay. The discounts can be activated with a tap and can also set reminders for deals that expire soon.
Five injured in stabbing in German town, suspect arrested
BERLIN (Reuters) – Five people were injured in a stabbing attack in the western German town of Oberhausen on Thursday and a suspect was arrested in what police said appeared to be a family dispute.
A spokesman for police in the nearby city of Essen said all five, including the attacker, had been treated in hospital and at least one sustained life-threatening injuries.
Joe Biden wins presidential race in Georgia, defeating Trump
High-profile outsiders descend on Georgia ahead of Senate runoff votes
Fox News correspondent Steve Harrigan has the latest from Atlanta on ‘Special Report’
The presidential race in Georgia was called for President-elect Joe Biden on Thursday night, officially awarding him the state’s 16 electoral votes and widening his lead over President Trump.
Biden has 306 electoral votes to Trump’s 232, though the president has yet to concede the race.
Instead, the president's campaign has launched lawsuits in a handful of key battleground states, including Pennsylvania and Wisconsin.
The Georgia loss is a big blow for the Trump campaign after he defeated his Democratic challenger Hillary Clinton by a margin of about 5 percent during the 2016 election cycle.
PENCE TO CAMPAIGN FRIDAY IN GEORGIA RUNOFFS, BUT NO WORD ON A TRUMP TRIP
This story is developing, please check back for updates.
51job Inc. Q3 adjusted earnings of RMB3.57 per share
51job Inc. (JOBS) revealed a profit for third quarter that declined from the same period last year.
The company’s profit totaled RMB164.53 million, or RMB2.55 per share. This compares with RMB298.45 million, or RMB4.44 per share, in last year’s third quarter.
Excluding items, 51job Inc. reported adjusted earnings of RMB242.97 million or RMB3.57 per share for the period.
The company’s revenue for the quarter fell 8.4% to RMB906.11 million from RMB988.95 million last year.
51job Inc. earnings at a glance:
-Earnings (Q3): RMB242.97 Mln. vs. RMB303.71 Mln. last year.
-EPS (Q3): RMB3.57 vs. RMB4.49 last year.
-Revenue (Q3): RMB906.11 Mln vs. RMB988.95 Mln last year.