Rumble Inc. (RUM) shares plummeted 11.32% during the intraday session on Friday, experiencing a sharp decline following the release of its first-quarter financial results.

The significant drop was driven by the company's quarterly results falling short of Wall Street expectations. Rumble reported a loss per share of $0.12, missing the analyst consensus estimate of a $0.09 loss. While revenue showed a 7% year-over-year increase to $25.46 million, it also failed to meet expectations. The company's net loss widened substantially to $30.27 million from $2.65 million a year earlier, attributed to higher operating expenses and changes in the fair value of warrant liability.

The negative investor reaction to the disappointing earnings overshadowed other company developments, including its announcement as the premier partner and official distribution channel for the Enhanced Games in a content agreement.