Vimeo Shares Hit 52-Week High After 3Q Earnings, Revenue Beats

Dow Jones11-06

By Chris Wack

Vimeo shares hit a 52-week high after the company reported third-quarter earnings and revenue that beat analysts' expectations.

Shares of the video technology company were up 42% to $6.83, after hitting $7.06 earlier in the session.

The New York company had earnings of $9.3 million, or 5 cents a share, compared with $8.5 million, or 5 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for earnings of 1 cent.

Revenue for the quarter came in at $104.6 million, compared with last year's $106.3 million. Analysts expected $99.5 million.

The company said bookings were up slightly in the third quarter, and Vimeo Enterprise revenue grew 42%.

For the fourth quarter, Vimeo is expecting revenue of about $100 million, compared with the $99.8 million analysts have forecast.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

November 05, 2024 12:36 ET (17:36 GMT)

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