Rumble Stock Slides On Mixed Q3 Earnings Report: Details
Portfolio Pulse from Ryan Gustafson
Rumble Inc. (NASDAQ:RUM) reported Q3 earnings with losses of $0.14 per share, beating estimates by $0.03 but down from last year's $0.01 per share. Sales were $17.98 million, missing estimates by $7.38 million but up 63.73% YOY. The company highlighted a 64% YOY revenue growth and the success of Rumble Advertising Center. RUM shares dropped in after-hours trading.
November 13, 2023 | 9:45 pm
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Rumble Inc. reported better-than-expected Q3 EPS but missed revenue targets, with shares falling after-hours. The company sees growth in revenue and MAUs.
The stock price decline in after-hours trading is likely due to the revenue miss, which can overshadow the narrower EPS loss. The growth in revenue and MAUs is positive, but the short-term focus is on the missed revenue expectations.
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IMPORTANCE 75
RELEVANCE 100