Rumble rises after Q1 results beat, cloud deal with NFL's Buccaneers

Shares of video-sharing platform and cloud services provider Rumble RUM.O up 26% at $9.80 on Fri after qtrly results beat analysts' expectations and partnership with National Football League's Tampa Bay Buccaneers announced

RUM shares rise as much as 32.3% to $10.29, over two-month high

Longboat Key, Florida firm late Thurs posted Q1 rev of $23.7 mln, up 34% y/y, slightly surpassing LSEG estimate of $23.1 mln

Loss in qtr narrowed from 21 cents/sh a year ago to 1 cent, while analysts' projected 11 cents/sh loss

Co said top line driven by increased subscription rev and and monetization across video and advertising platforms

Avg global monthly active users reflected 87% retention rate after 2024 U.S. election, compared to 60% retention post 2022 U.S. midterm election, co said

Co to provide cloud storage for all of the Buccaneers' video content, and agreement includes Rumble advertisements featured on team's website, broadcasts, and in team's home facility, Raymond James Stadium

Rumble, whose previous investors include a VC firm co-founded by U.S. Vice President JD Vance, has roughly $3.3 bln market cap, per LSEG data

Despite move on Fri, RUM shares down 25% YTD