By Denny Jacob
Rumble widened its loss despite a surge in revenue in its fourth quarter.
The video-sharing site widened its loss to $236.8 million, or $1.15 a share, from $29.3 million, or 14 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 12 cents a share.
Revenue rose around 48% to $30.2 million from $20.4 million. Analysts polled by FactSet expected $29.7 million.
Average global monthly active users reached 68 million in the quarter, 52 million of which were based in the U.S. and Canada. Rumble said its metric increased during the United States presidential election season.
"With the Tether transaction now closed, I could not be more excited about the possibilities and the new era we are entering for Rumble," said Chief Executive Chris Pavlovski, referring to an earlier investment from the cryptocurrency company.
Rumble forecast revenue growth of at least 25% in the current quarter compared to the first quarter of 2024. The company also maintained its expectations to move materially toward adjusted earnings before interest, taxes, depreciation and amortization breakeven in 2025.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
March 25, 2025 09:28 ET (13:28 GMT)
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