Rumble Q2 2024 Earnings: Revenue $22.5M, Net Loss $0.13/Share, Stock Up 7% Post Market

Rumble Inc. reported its earnings for the second quarter of 2024, revealing a net loss per share of $0.13, an improvement from the $0.15 loss per share in the same quarter last year. The company's total revenue for the quarter was $22.5 million, marking a 27% sequential increase from the first quarter of 2024, but a 10% decline from the $25.0 million reported in the second quarter of 2023. Despite the year-over-year revenue decrease, Rumble's revenue exceeded dual analyst consensus estimates of $19.7 million, and the company also surpassed earnings expectations by $0.02. Rumble's average global Monthly Active Users (MAUs) reached 53 million, up from 50 million in the previous quarter. Additionally, the Average Revenue Per User (ARPU) increased by 19% to $0.37. The company anticipates continued sequential revenue growth throughout 2024 as it ramps up monetization efforts. Post market, Rumble's stock rose by 7%.