Rumble (NASDAQ:RUM) Issues Quarterly Earnings Results

Rumble (NASDAQ:RUM) released its earnings results on Tuesday. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02), Briefing.com reports. Rumble had a negative net margin of 152.81% and a negative return on equity of 62.75%. The company had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $29.74 million. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. Rumble updated its Q1 2025 guidance to EPS.

Rumble Price Performance

NASDAQ:RUM traded down $0.04 during trading hours on Tuesday, hitting $7.98. The stock had a trading volume of 1,231,559 shares, compared to its average volume of 3,099,465. Rumble has a one year low of $4.92 and a one year high of $17.38. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of -12.62 and a beta of 0.56. The company has a 50 day simple moving average of $10.52 and a two-hundred day simple moving average of $8.47.

Analysts Set New Price Targets

Separately, Maxim Group started coverage on Rumble in a report on Wednesday, January 15th. They issued a “buy” rating and a $20.00 price objective for the company.

Insider Buying and Selling

In other news, Director Ryan Milnes sold 24,978,210 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $187,336,575.00. Following the transaction, the director now owns 57,290 shares of the company’s stock, valued at $429,675. This represents a 99.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brandon Alexandroff sold 6,828,420 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the sale, the chief financial officer now owns 64,210 shares in the company, valued at approximately $481,575. This trade represents a 99.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,104,017 shares of company stock worth $308,280,128 over the last ninety days. 70.10% of the stock is owned by corporate insiders.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming 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.