When Rumble Inc. released its third-quarter earnings report, it resulted in a mixed reception from investors and traders. Here’s a detailed breakdown of the key highlights and how they impacted the company’s stock performance.
Key Figures from the Earnings Report
Rumble reported a loss of 14 cents per share for the quarter, missing the consensus estimate of 17 cents but representing a decline from the one cent per share loss reported in the same period last year. Additionally, the company’s quarterly sales of $17.98 million fell short of the analyst consensus estimate of $25.36 million, despite a notable 63.73% increase over sales from the previous year, which stood at $10.98 million. Furthermore, Rumble disclosed that it had an average global Monthly Active Users (MAUs) count of 58 million, with 40 million hailing from the U.S. and Canada.
CEO’s Insights on the Earnings
Rumble’s Chairman and CEO, Chris Pavlovski, weighed in on the earnings, highlighting the company’s 64% year-over-year growth in topline revenue. He pointed to the early positive indications of tangible revenue dollars resulting from the successful implementation of Rumble Advertising Center (RAC). Additionally, Pavlovski emphasized the company’s ongoing focus on positioning streamers for optimal earnings through the Rumble platform.
Stock Performance in After-Hours Trading
Following the earnings release, Rumble Inc.’s stock experienced a 0.22% decline, settling at $4.49 in the after-hours session. This movement is indicative of the market’s immediate reaction to the earnings report.
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