Investing
Vimeo earnings ‘showcased the potential of the model’
© Reuters. Vimeo (VMEO) earnings ‘showcased the potential of the model’
Vimeo (NASDAQ:) shares continued to rise Wednesday after the stock rallied over 6% in the previous session on the back of its Q3 beat and guidance raise earlier in the week.
Shares of the video-sharing platform are up a further 1% in today’s session.
On Monday, after the close, VMEO reported Q3 EPS of $0.05, $0.09 better than the analyst estimate of ($0.04). Revenue for the quarter came in at $106 million versus the consensus estimate of $101.1 million.
Vimeo said total bookings during Q3 reached $100 million, growing for the first time this year. The company improved its year-over-year bookings and revenue trajectory in its biggest product area, Self-Serve & Add-Ons.
For the fourth quarter of 2023, Vimeo expects revenue to be above $100 million and adjusted EBITDA to be in the high-single-digit millions of dollars.
Its Q4 guidance implies that it continues to expect revenue to be down mid-single digit percentage points for the full year compared to the prior year and now expects adjusted EBITDA to be between $27 million and $30 million.
Reacting to the report, analysts at Wells Fargo said the third quarter “showcased the potential of the model, as bookings grew while EBITDA margin reached a record 12%.”
“However, management expects ‘nonlinear’ path to sustained bookings growth (-MSD guide for 4Q) & noted margin was likely too rich in 3Q,” added the analysts, who maintained an Overweight rating and $7 per share price target on the stock.
Read the full article here
-
Passive Income7 days ago
Are You Running Your Business, or Is Your Business Running You?
-
Side Hustles7 days ago
How Your Body Language Can Help Win a Disagreement
-
Side Hustles6 days ago
How to Be Unapologetically You and Why It Matters
-
Side Hustles7 days ago
OpenAI Raises Record $6.6 Billion, Adds 50 Million New Users
-
Side Hustles6 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool
-
Investing7 days ago
7 Marketing Strategies to Help Your Startup Grow and Scale
-
Investing5 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles5 days ago
Mark Zuckerberg Is Now Second Richest Person in the World