Vimeo reports Q1 EPS 4c, consensus (1c)

Reports Q1 revenue $104.9M, consensus $100.26M. Total bookings were $98 million, up slightly year-over-year, and total revenue was $105 million, up 1% year-over-year, with both led by strength in Vimeo Enterprise. “We believe our top line results demonstrate our models resilience and the enduring strength of our products. Vimeo Enterprise grew bookings 47% and revenue 60% year-over-year, and momentum continued with customer wins such as Delta, Nissan, NATO, and 7-Eleven. This was partially offset by Other bookings decline of 12% and revenue decline of 19% due primarily to product deprecations. In Self-Serve & Add-Ons, we reduced our underperforming advertising spend and didnt see the same magnitude decline in bookings as they fell 6%, with new bookings down significantly less than the spending cut, and revenue fell only 2%,” CEO Philip Moyer and CFO Gillian Munson said.