Shares of Rumble Inc. rocketed higher after the right-wing social-media platform reported fourth-quarter results that were better than Wall Street expected.
Shares of Rumble Inc. rocketed higher in Thursday’s extended session after the video-focused, right-leaning social-media platform reported fourth-quarter results that were better than Wall Street expected, helped by what the company said was a jump in users and video engagement.
The company — which pitches itself as a creator of “technologies that are immune to cancel culture” — reported a net loss of around $945,000, but broke even on a per-share basis. That compared with a $10.5 million net loss, or 6 cents a share, in the fourth quarter of 2021. The two analysts polled by FactSet expected Rumble RUM to report a per-share loss of 2 cents, on revenue of $10.2 million.The company said it has launched new notification features for iOS and Android, as well as a platform that allows creators on the site to upload articles.
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