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

Rumble (NASDAQ:RUM) posted its earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.08, Briefing.com reports. The company had revenue of $20.39 million during the quarter, compared to analyst estimates of $28.13 million. Rumble had a negative return on equity of 30.48% and a negative net margin of 109.39%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS.

Rumble Trading Down 1.3 %

RUM stock opened at $8.50 on Thursday. The firm has a market capitalization of $3.28 billion, a PE ratio of -19.77 and a beta of 0.77. Rumble has a 1-year low of $3.33 and a 1-year high of $11.25. The business’s 50 day simple moving average is $6.88 and its 200 day simple moving average is $5.61.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Rumble by 430.6% in the 1st quarter. BlackRock Inc. now owns 1,541,934 shares of the company’s stock valued at $15,419,000 after buying an additional 1,251,322 shares in the last quarter. Ameriprise Financial Inc. acquired a new position in Rumble in the 3rd quarter valued at $5,042,000. Geode Capital Management LLC grew its holdings in Rumble by 543.5% in the 1st quarter. Geode Capital Management LLC now owns 900,101 shares of the company’s stock valued at $9,001,000 after buying an additional 760,223 shares in the last quarter. State Street Corp grew its holdings in Rumble by 236.7% in the 2nd quarter. State Street Corp now owns 946,213 shares of the company’s stock valued at $8,440,000 after buying an additional 665,213 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Rumble in the 1st quarter valued at $5,040,000. 26.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.