HomeTop MoversHere is why Vimeo Inc. (VMEO) stock performed well on Tuesday?

Here is why Vimeo Inc. (VMEO) stock performed well on Tuesday?

Vimeo Inc. (VMEO) shares soared 4.63% in after-hours on Tuesday, October 11, 2021, and closed the daily trading at $28.00. Even in the regular trading session, VMEO’s stock gained 0.04%. The stock volume remained 1.17 million shares. VMEO shares have moved down 6.34% in the past week. Over the past three months, the stock has lost 44.99%. The company has a current market of $4.66 billion and its outstanding shares stood at 164.46 million.

Let’s have a brief look at its recent news.


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VMEO Monthly Matrics

On October 12, 2021, Vimeo posted monthly metrics for September 2021 on the investor relations section of its website.

  • Average revenue increased by 1% for September as compared to August 2021.
  • Revenue figures remain constant at 33% for September as compared to the previous month.
  • Subscribers declined by 1% in September as compared to 15% in August 2021.

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VMEO new features for Apple users

On September 10, 2021, Vimeo Inc. (VMEO), announced the first-to-market launch with Dolby, to enable hosting, sharing, and playback of videos created in Dolby Vision® on Apple devices. Apple device users can now use Vimeo to unlock the same professional-quality video technology embraced by the world’s top storytellers.

Videos recorded with an Apple device in Dolby Vision can now be shared and viewed in the exact picture quality as intended by the creator, with Vimeo.

VMEO participation in the recent conference

Vimeo Inc. (VMEO) recently participated in a fireside chat at Jefferies Virtual Software Conference which was held on September 14, 2021. Narayan Menon, Chief Financial Officer of Vimeo presented the company during the event.

VMEO recent financial results

On August 05, 2021, Vimeo Inc. (VMEO) released its financial results for the fiscal second quarter of 2021 which ended on June 30, 2021.

Q2 2021 financial highlights

  • VMEO reported revenue of $96.0 million in Q2 2021 compared to $67.3 million in Q2 2020.
  • Gross profit was $70.3 million compared to $44.4 million in Q2 2020.
  • Total operating expenses were $90.6 million in Q2 2021 compared to $56.8 million in Q2 2020.
  • It suffered a GAAP operating loss of $20.3 million in Q2 2021 compared to a GAAP operating loss of $12.3 million in Q2 2020.
  • Net loss was $20.4 million in Q2 2021 compared to a net loss of $14.8 million in Q2 2020.
  • In Q2 2021, Adjusted EBITDA was $3.8 million compared to $5.3 million in Q2 2020.

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Conclusion

The stock went up after the company announced its monthly updates which are consistent with their previously announced targets. We can expect it to further go up in the coming trading sessions.

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