Rumble Q4 Earnings Highlights: Revenue Miss, EPS Beat, Rumble Cloud 'Biggest Accomplishment To Date'
Portfolio Pulse from Chris Katje
Rumble Inc (NASDAQ:RUM) reported Q4 earnings with a revenue of $20.39 million, missing the consensus estimate of $28.1 million but beating EPS estimates with a loss of 14 cents per share against an expected loss of 22 cents. The company saw a 16% quarter-over-quarter increase in monthly active users, reaching 67 million, with 48 million from the US and Canada. Average minutes watched per month slightly decreased, while hours of uploaded video per day increased year-over-year. Rumble highlighted its new products, including Rumble Cloud, and partnerships, such as with Barstool Sports. The company expects revenue growth starting Q2 of 2024 and aims for breakeven in 2025.
March 27, 2024 | 8:31 pm
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Rumble Inc reported mixed Q4 earnings with a revenue miss and an EPS beat. The company highlighted growth in monthly active users and introduced new products and partnerships, expecting revenue growth from Q2 2024.
The mixed earnings report with a revenue miss but an EPS beat and the announcement of new products and partnerships could lead to neutral short-term price action. The company's optimistic outlook for revenue growth starting Q2 2024 and the aim for breakeven in 2025 may balance investor sentiment.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100