Vimeo, the video-sharing platform that competes with the likes of YouTube, is one of many companies in technology reporting its earnings this week. In the company’s Q1 2023 earnings report, Vimeo (VMEO) surprised by showing that it beat both profit and revenue expectations.
Vimeo’s (VMEO) Q1 2023 earnings report was shared after the close of markets today. The company brought in $103.6 million in revenue, which closely beats the expectation of $102 million. Vimeo CEO Anjali Sud provided a statement on the earnings in a quote included with the release.
One of the most fascinating pieces of information to come out of the report was the adjusted EBITDA for the full year. Vimeo is expecting to break even, or even make a profit, which is surprising given that analysts were forecasting a loss for them. Vimeo stock has been on a steady decline in recent months, and didn’t see much movement after earnings were reported today.
Vimeo (VMEO) wasn’t the only company to report financial earnings today. Qualcomm reported a revenue beat in its Q2 2023 earnings. For more finance news as it relates to the tech world, stick with us here at Shacknews.