Vimeo, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 06:19 am EST
Share
Vimeo, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 106.25 million compared to USD 108.13 million a year ago. Net income was USD 8.46 million compared to net loss of USD 21.42 million a year ago. Basic earnings per share from continuing operations was USD 0.05 compared to basic loss per share from continuing operations of USD 0.13 a year ago. Diluted earnings per share from continuing operations was USD 0.05 compared to diluted loss per share from continuing operations of USD 0.13 a year ago.
For the nine months, sales was USD 311.67 million compared to USD 327.46 million a year ago. Net income was USD 13.64 million compared to net loss of USD 74.48 million a year ago. Basic earnings per share from continuing operations was USD 0.08 compared to basic loss per share from continuing operations of USD 0.46 a year ago. Diluted earnings per share from continuing operations was USD 0.08 compared to diluted loss per share from continuing operations of USD 0.46 a year ago.
Vimeo, Inc. operates a video experience platform, providing a full breadth of video tools through a software-as-a-service (SaaS) model. The Company's comprehensive and cloud-based tools encourage its users to create, collaborate and communicate with video on a single, turnkey platform. Its cloud-based eliminates barriers to using video and solves essential video needs, including creation, collaboration, distribution, hosting, monetization, and analytics. It sells subscription plans including self-serve and add-ons, Vimeo Enterprise, and others. Its self-serve and add-ons relate to its subscription plans sold directly online, and any add-on services tied to those online subscriptions. Its Vimeo Enterprise relates to its video offering designed for teams and organizations. Its others relate to products and services that primarily offer over-the-top (OTT) video monetization solutions that allow customers to launch and run their own video streaming channel directly to their audience.