Rumble (NASDAQ:RUM) Posts Earnings Results, Beats Estimates By $0.08 EPS

Rumble (NASDAQ:RUMGet Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.08, Briefing.com reports. Rumble had a negative return on equity of 37.06% and a negative net margin of 143.79%. The firm had revenue of $20.39 million for the quarter, compared to analyst estimates of $28.13 million. During the same quarter last year, the company posted ($0.06) earnings per share. The business’s revenue was up 2.2% on a year-over-year basis.

Rumble Stock Down 4.9 %

Shares of NASDAQ:RUM opened at $8.08 on Friday. The company has a market cap of $3.12 billion, a P/E ratio of -14.18 and a beta of 0.77. Rumble has a 52 week low of $3.33 and a 52 week high of $11.25. The company has a 50-day moving average price of $7.07 and a 200 day moving average price of $5.65.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer restated a “market perform” rating on shares of Rumble in a research report on Thursday.

View Our Latest Stock Analysis on Rumble

Institutional Investors Weigh In On Rumble

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of Rumble by 12.7% during the 2nd quarter. BlackRock Inc. now owns 1,738,498 shares of the company’s stock valued at $15,507,000 after acquiring an additional 196,564 shares during the period. State Street Corp lifted its position in shares of Rumble by 236.7% during the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock valued at $8,440,000 after acquiring an additional 665,213 shares during the period. Geode Capital Management LLC lifted its position in shares of Rumble by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 916,879 shares of the company’s stock valued at $8,179,000 after acquiring an additional 16,778 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Rumble during the 3rd quarter valued at approximately $5,042,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Rumble during the 1st quarter valued at approximately $5,040,000. 26.15% of the stock is currently owned by institutional investors and hedge funds.

About Rumble

(Get Free Report)

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators. It also operates locals.com, a subscription platform for creators and subscribers to engage through VOD, podcasts, live chat, polls, and community discussions; and Rumble Advertising Center (RAC), an online advertising management exchange.

See Also

Earnings History for Rumble (NASDAQ:RUM)

Receive News & Ratings for Rumble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rumble and related companies with MarketBeat.com's FREE daily email newsletter.