Why Vimeo Stock Is Plummeting Today
Vimeo (NASDAQ: VMEO) stock is getting hit with huge sell-offs in Thursday's trading. The video streaming company's share price was down 20.9% as of 1:25 p.m. ET today. At the same point in time, the S 500 index and the Nasdaq Composite index were both down 0.8%%.
Vimeo posted its fourth-quarter results after the market closed yesterday, delivering mixed results. Revenue for the period beat Wall Street's target, but it posted a smaller-than-expected profit. Investors are also underwhelmed by the company's guidance.
Vimeo reported earnings of $0.01 per share on revenue of $103.16 million in the fourth quarter. The average Wall Street analyst estimate had called for a per-share profit of $0.03 on revenue of $100.59 million.
Source Fool.com
