By Chris Wack
Shares of Rumble gained after the video-sharing platform and cloud-services provider said its first-quarter loss was narrower than expected and its revenue was ahead of analysts' forecasts.
The stock was up 29%, to $10.06, late Friday morning, but it has fallen about 23% since the start of the year.
Rumble after the bell Thursday reported a first-quarter loss of $2.7 million, or 1 cent a share, compared with a loss of $43.3 million, or 21 cents a share, in the same quarter last year.
Revenue for the quarter was $23.7 million, compared with the $22.8 million analysts were expecting. The Longboat Key, Fla., company said its top line was driven by increased subscription revenue and monetization across its video and advertising platforms.
The company said its average global monthly active users reflected an 87% retention after the 2024 U.S. general election, compared with 60% retention following 2022 U.S. midterm elections.
As of March 31, Rumble had total liquidity of $318.7 million, including 210.82 bitcoin, valued at $17.4 million.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 09, 2025 11:19 ET (15:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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