Rumble reports Q3 EPS (15c), two estimates (12c)

Reports Q3 revenue $25.1M, two estimates $29.3M. The company states: “Average global Monthly Active Users (“MAUs”) of 67 million in the third quarter of 2024, compared to 53 million in the second quarter of 2024. This represents the eleventh consecutive quarter above 40 million average global MAUs on the platform. We believe that the increase from the second quarter of 2024 is attributable to a rise in interest in political content in the third quarter of 2024. Of the 67 million MAUs, 43 million were based in the U.S. and Canada. Average Revenue Per User (“ARPU”) for the third quarter of 2024 was $0.33, compared to $0.37 in the second quarter. Given that we are currently in the early stages of monetizing our user base, we expect to see some lag in revenue relative to users, particularly during periods of high user growth. As a result, in the third quarter Rumble (RUM) saw a decrease in ARPU as revenue growth slightly lagged strong MAU growth from the lead-up to the United States presidential election.”