Rumble Q3 Earnings: Revenue Miss, EPS Miss, Monthly Active Users Jump To 67M, Election Night 'Broke Records'

Rumble Inc RUM shares are trading lower in Tuesday’s after-hours session on the heels of the company’s third-quarter financial results. Here’s a rundown of the report.

• Q3 Revenue: $25.1 million, versus estimates of $29.25 million

• Q3 Adjusted EPS: Loss of 15 cents, versus estimates for a loss of 12 cents

Revenue was up 39% on a year-over-year basis. Average global monthly active users climbed to 67 million in the quarter, up from 53 million in the second quarter. The video-sharing platform company said the jump was likely due to increased interest in political content. Average revenue per user was 33 cents in the third quarter, down from 37 cents in the second quarter.

Rumble ended the quarter with $132 million in cash, cash equivalents and marketable securities.

“It has been two years since we made our public debut, and I can honestly say that I have never been more optimistic about the opportunity in front of us. We broke records on Election Night,” said Chris Pavlovski, chairman and CEO of Rumble.

“The American people have spoken. Cancel culture is dead. Free speech is now mainstream, and Rumble is in the driver’s seat with the best lineup of independent creators with the best economics.”

Check This Out: Inside Trump’s Inner Circle: How JD Vance-Backed Tech Magnate Pavlovski Is Shaping Up Right-Wing Politics

Outlook: Rumble said it continues to expect revenue growth for the remainder of 2024. The company also continues to expect to “move materially towards” adjusted EBITDA breakeven in 2025.

RUM Price Action: Rumble shares were down 12.88% in after-hours, trading at $5.95 at the time of publication, according to Benzinga Pro.

Photo: Shutterstock.