Rumble Q2 Earnings Highlights: Revenue Beat, EPS Beat, 3 Million More Monthly Users As 2024 Election Drives Audience To Platform
Portfolio Pulse from Chris Katje
Rumble Inc (NASDAQ:RUM) reported strong Q2 financial results, with revenue and EPS beating estimates. The company saw a significant increase in monthly active users, driven by political interest. Rumble also launched a second antitrust lawsuit against Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).
August 12, 2024 | 8:31 pm
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NEGATIVE IMPACT
Rumble launched a second antitrust lawsuit against Alphabet Inc's Google, alleging monopolization of the online advertising market and seeking over $1 billion in damages.
The antitrust lawsuit could pose legal and financial challenges for Alphabet Inc. However, the immediate impact on stock price may be limited unless the case progresses significantly.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Rumble launched a second antitrust lawsuit against Alphabet Inc's Google, alleging monopolization of the online advertising market and seeking over $1 billion in damages.
The antitrust lawsuit could pose legal and financial challenges for Alphabet Inc. However, the immediate impact on stock price may be limited unless the case progresses significantly.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Rumble Inc reported strong Q2 results with revenue of $22.5 million and a loss of 13 cents per share, both beating estimates. The company saw a rise in monthly active users and higher average revenue per user. Shares are up 6% in after-hours trading.
Rumble's strong financial performance and user growth are positive indicators for the company's future. The market has reacted positively, with shares up 6% in after-hours trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100