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Why Vimeo's Shares Jumped 25.1% Today

TheMotleyFool

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Why Vimeo's Shares Jumped 25.1% Today: https://g.foolcdn.com/editorial/images/754152/child-watching-tv.jpg

Shares of streaming service Vimeo (NASDAQ: VMEO) jumped as much as 25.1% in trading on Tuesday after the company reported third-quarter financial results. At 1 p.m. ET shares had given back some of their gains but were still up 9.6% on the day.

Revenue was down slightly from $108.1 million a year ago to $106.3 million, but Vimeo reported $8.5 million in net income, or $0.05 per share, compared to a $21.4 million loss a year ago. The reason was operating costs dropped from $105.8 million a year ago to $78.8 million.

Analysts were only expecting $106 million in revenue and earnings of a penny per share on an adjusted basis.

Source Fool.com

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