Rumble Is 'Still Looking For Q2 Revenue Improvement,' Says Analyst
Portfolio Pulse from Priya Nigam
Rumble Inc (NASDAQ:RUM) shares fell after reporting Q1 results. Despite improved monetization, engagement declined. U.S. monthly average users rose by 6% YoY, and ARPU grew by 23% QoQ. GAAP gross profit loss was better than expected, and EBITDA loss was also better than estimates. Revenue declined by 13% sequentially, but management expects growth in Q2.
May 15, 2024 | 5:08 pm
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Rumble Inc reported mixed Q1 results with improved monetization but declining engagement. U.S. monthly average users rose by 6% YoY, and ARPU grew by 23% QoQ. Despite a 13% sequential revenue decline, management expects Q2 revenue growth.
The mixed Q1 results with improved monetization but declining engagement led to a 2.24% drop in share price. However, the increase in U.S. monthly average users and ARPU, along with management's positive outlook for Q2 revenue growth, balances the short-term impact.
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