The Vimeo company put up earnings-per-share profits instead of the losses that were expected, and its revenue also came out ahead.
In the online video platform space, Vimeo (stock symbol: VMEO) continues to be an alternative to YouTube, and the company posted its earnings results this week. Vimeo’s Q4 2023 earnings results were expected to be fairly light, but the company managed to overcome expectations, putting out a profit on earnings-per-share (EPS) where losses were expected. It also managed to overcome revenue expectations with a narrow beat.
Vimeo posted its Q4 2023 earnings results on its investor relations website this week. The company’s revenue came out to $105 million USD. That was just enough to beat Wall Street expectations that were set at $102 million. Meanwhile, for its EPS, analysts expected a loss. Wall Street expectations were set at $0.008 per share of loss and the Earnings Whisper number was set at $0.01 per share losses. Instead, Vimeo put up a profit of $0.05 per share, beating both expectations in its bottom line.
Source: Google
This marks the latest in a number of surprise beats for Vimeo throughout its 2023 fiscal year. The company put up beats on revenue and EPS in both Q2 and Q1, even as it was going through a CEO change in the last quarter. Even if competing services such as YouTube dominate the industry, Vimeo still exists and offers a stalwart and reliable alternative to YouTube’s platform.
With another narrowly successful quarter behind it, it will be interesting to see if Vimeo can keep up its streak in future quarters. Stay tuned for more tech company earnings results as they drop this season.
TJ Denzer is a player and writer with a passion for games that has dominated a lifetime. He found his way to the Shacknews roster in late 2019 and has worked his way to Senior News Editor since. Between news coverage, he also aides notably in livestream projects like the indie game-focused Indie-licious, the Shacknews Stimulus Games, and the Shacknews Dump. You can reach him at tj.denzer@shacknews.com and also find him on Twitter @JohnnyChugs.
