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Vimeo stock rises after earnings as outlook calls for narrower loss than was previously forecast

vimeo stock rises after earnings as outlook calls for narrower loss than was previously forecast

Shares of Vimeo Inc. VMEO, -9.73% were up more than 10% in after-hours trading Wednesday after the maker of video tools forecast a narrower-than-expected loss for the year. The company notched a net loss of $21.4 million, or 13 cents a share, compared with a loss of $11.7 million, or 7 cents a share, in the year-earlier period. Analysts tracked by FactSet were anticipating a 17-cent per-share loss. Vimeo also reported $2.1 million in adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), up from about $800,000 on the non-GAAP metric a year before. Revenue rose to $108.1 million from $100.1 million, whereas the FactSet consensus was for $106.5 million. Executives now anticipate a $15 million to $18 million loss on the basis of adjusted Ebitda, whereas the company’s prior forecast called for a $20 million to $25 million loss on the metric. The FactSet consensus was for a $23 million adjusted Ebitda loss.

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