Rumble (NASDAQ:RUM) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Rumble (NASDAQ:RUM - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.08, Briefing.com reports. The company had revenue of $20.39 million for the quarter, compared to analysts' expectations of $28.13 million. Rumble had a negative net margin of 109.39% and a negative return on equity of 30.48%. Rumble's revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS.

Rumble Stock Down 4.9 %

NASDAQ:RUM traded down $0.42 during trading hours on Thursday, hitting $8.08. 4,671,393 shares of the company's stock traded hands, compared to its average volume of 6,832,442. The firm has a market cap of $3.12 billion, a P/E ratio of -18.79 and a beta of 0.77. Rumble has a 52 week low of $3.33 and a 52 week high of $11.25. The business's fifty day simple moving average is $6.98 and its two-hundred day simple moving average is $5.63.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Rumble

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada purchased a new stake in shares of Rumble in the third quarter worth about $351,000. Commonwealth Equity Services LLC bought a new position in shares of Rumble during the third quarter valued at approximately $933,000. Raymond James & Associates grew its stake in shares of Rumble by 44.4% during the fourth quarter. Raymond James & Associates now owns 19,972 shares of the company's stock valued at $119,000 after buying an additional 6,140 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Rumble by 55.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 73,480 shares of the company's stock valued at $438,000 after buying an additional 26,289 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Rumble by 916.7% during the fourth quarter. Geode Capital Management LLC now owns 139,878 shares of the company's stock valued at $832,000 after buying an additional 126,120 shares during the last quarter. 26.15% of the stock is currently owned by hedge funds and other institutional investors.

About Rumble

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.