Rumble shares gain as revenue declines, but loss lessens

By Denny Jacob

Rumble (RUM) narrowed its loss in its latest quarter despite revenue declining.

The video-sharing site narrowed its loss to $26.8 million, or 13 cents a share, for the second quarter ended June 30, from $29.5 million, or 15 cents a share, a year earlier.

Revenue declined 10% to $22.5 million from about $25 million.

Average global monthly active users reached 53 million in the quarter, 37 million of which were based in the U.S. and Canada.

Shares rose about 7% after hours Monday.

Rumble maintained its expectations to move materially toward adjusted earnings before interest, taxes, depreciation and amortization breakeven in 2025.

Rumble recently joined social media platform X, formerly known as Twitter, in lawsuits against an advertising industry coalition, saying companies in the group illegally boycotted the platform.

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08-12-24 2126ET

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