Rumble Inc. (RUM) shares soared 5.37% in pre-market trading on Tuesday, following the release of its fourth-quarter 2024 earnings report. The video-sharing platform company's stock movement comes on the heels of a sales performance that exceeded analyst expectations.
According to the earnings release, Rumble reported Q4 2024 sales of $30.228 million, surpassing the estimated $29.733 million. This better-than-expected revenue figure appears to have sparked investor enthusiasm, driving the stock's pre-market rally.
However, it's worth noting that the company's GAAP earnings per share (EPS) came in at $(1.15), which may not be directly comparable to the analyst estimate of $(0.12). Despite this potential earnings miss, the market seems to be focusing on the positive sales performance, underlining the importance of revenue growth for this emerging platform in the competitive social media landscape.
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