04:36 PM EDT, 05/14/2024 (MT Newswires) -- Rumble (RUM) reported a Q1 net loss late Tuesday of $0.21 per diluted share, wider than a loss of $0.14 a year earlier.

One analyst polled by Capital IQ expected a loss of $0.19.

Revenue for the quarter ended March 31 was $17.7 million, up from $17.6 million a year earlier.

A lone analyst surveyed by Capital IQ projected $18.3 million.

The company said global monthly active users were 50 million in Q1, compared with 67 million in Q4 of 2023.

As a result of its revenue engines coming online and guaranteed creator commitments set to significantly decrease by the end of 2024 and into 2025, Rumble said it continues to move materially towards breakeven in 2025.

Shares of Rumble were down 4% in after-hours activity.

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