Video sharing platform Rumble (NASDAQGM:RUM) will be reporting earnings this Monday after market hours. Here’s what you need to know.
Rumble missed analysts’ revenue expectations last quarter, reporting revenues of $25.46 million, up 7.4% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS estimates.
Is Rumble a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rumble’s revenue to grow 22.2% year on year, improving from the 11.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Rumble has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Rumble’s peers in the media & entertainment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Stride’s revenues decreased 2.7% year on year, beating analysts’ expectations by 1.4%, and People reported a revenue decline of 13.5%, topping estimates by 0.9%. Stride traded up 2.6% following the results while People was also up 10.4%.
Read our full analysis of Stride’s results here and People’s results here.
There has been positive sentiment among investors in the media & entertainment segment, with share prices up 7.9% on average over the last month. Rumble is up 4.6% during the same time and is heading into earnings with an average analyst price target of $22 (compared to the current share price of $6.41).
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