Rumble reports Q3 EPS (14c), two estimates (17c)

Reports Q3 revenue $18M, two estimates $25.36M. Rumble on Monday reported average global Monthly Active Users of 58 million in the third quarter of 2023. As of September 30, 2023, Rumble’s balance of cash, cash equivalents and marketable securities was approximately $267M. Rumble’s Chairman and CEO Chris Pavlovski commented, “Our third quarter topline revenue grew 64% year over year as we continue to receive early positive indications of tangible revenue dollars from the successful implementation of Rumble Advertising Center, or RAC. Meanwhile, we continue to focus on establishing Rumble as the platform that can position streamers for optimal earnings. With average Monthly Active Users of 58 million, we have a strong user base that is ripe for monetization, which in turn will allow us to curb our creator incentives. With the proven functionality in place to transition creators onto the Rumble Studio, in addition to the capabilities of RAC, we believe we have the tools to take our earnings to the next level. Simply put, our recent spend on creators, including sports leagues, has successfully diversified our user base. This diverse user base has already attracted numerous brand advertisers and created traction with top-tier advertising agencies. We are seeing the fruits of our labors, and our focus remains on monetization and a pathway to profitability.”