Rumble Inc. RUM shares are trading lower in Monday's after-hours session following the release of the company's third-quarter earnings. Here's what's moving the stock.
What To Know: Rumble reported quarterly losses of 14 cents per share, missing the consensus estimates of losses of 17 cents, down from one cent per share from the same period last year.
The company reported quarterly sales of $17.98 million, falling short of the analyst consensus estimate of $25.36 million. The figure represents a 63.73% increase over sales of $10.98 million in the same period last year.
It is also worth noting that the company reported an average global Monthly Active Users (MAUs) of 58 million, with 40 million based in the U.S. and Canada.
Rumble's Chairman and CEO Chris Pavlovski commented on the earnings, saying, "Our third quarter topline revenue grew 64% year over year as we continue to receive early positive indications of tangible revenue dollars from the successful implementation of Rumble Advertising Center, or RAC. Meanwhile, we continue to focus on establishing Rumble as the platform that can position streamers for optimal earnings."
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RUM Price Action: Shares of RUM were down 0.22% at $4.49 in the after-hours session at the time of publication, according to Benzinga Pro.
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