What's Going On With Rumble Stock Thursday?
Portfolio Pulse from Adam Eckert
Rumble Inc (NASDAQ:RUM) reported Q4 financial results with a slight revenue increase of 2% year-over-year to $20.39 million, missing consensus estimates of $28.13 million. The company saw a loss of 14 cents per share, beating estimates for a loss of 22 cents. Despite a 16% quarter-over-quarter increase in average global monthly active users, average minutes watched per month slightly decreased. Rumble ended the quarter with $219.5 million in cash and equivalents. The company anticipates revenue growth starting Q2 and aims for breakeven by 2025. Oppenheimer analyst Jason Helfstein maintained a Perform rating on RUM.
March 28, 2024 | 2:11 pm
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NEGATIVE IMPACT
Rumble Inc reported Q4 results with revenue missing estimates but a smaller-than-expected loss per share. The company anticipates revenue growth from Q2 and targets breakeven by 2025.
The stock traded lower due to the revenue miss for Q4, indicating short-term negative sentiment. However, the smaller-than-expected loss and positive future revenue outlook could mitigate some of the negative impact over time.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100