Rumble Q2 Earnings Highlights: CEO Says Results Prove Streaming Platform Can 'Monetize User Base'
Portfolio Pulse from Chris Katje
Rumble Inc (NASDAQ:RUM) reported Q2 revenue of $24.97 million, up 468% YoY, beating the Street consensus estimate of $18.15 million. However, the company reported a loss of 15 cents per share, missing the Street consensus estimate of a loss of 8 cents per share. The company reported 44 million average global monthly active users, down from 48 million in Q1. Rumble ended Q2 with $296.7 million in cash and cash equivalents. The company also announced it will livestream the first Republican primary debate for the 2024 presidential race, which will be broadcast by Fox Corporation (NASDAQ:FOX)(NASDAQ:FOXA).
August 14, 2023 | 8:43 pm
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NEUTRAL IMPACT
Fox Corporation will broadcast the first Republican primary debate for the 2024 presidential race, which will also be livestreamed by Rumble.
The broadcast of the Republican primary debate could potentially boost Fox's viewership and ad revenue. However, the impact on the stock is uncertain as it also depends on other factors such as overall company performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Fox Corporation will broadcast the first Republican primary debate for the 2024 presidential race, which will also be livestreamed by Rumble.
The broadcast of the Republican primary debate could potentially boost Fox's viewership and ad revenue. However, the impact on the stock is uncertain as it also depends on other factors such as overall company performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Rumble reported strong Q2 revenue growth but missed earnings estimates. The company also announced it will livestream the first Republican primary debate for the 2024 presidential race.
Rumble's strong revenue growth is a positive sign, but the missed earnings estimates could negatively impact the stock. The announcement of livestreaming the Republican primary debate could potentially boost user engagement and ad revenue in the next quarter.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100