Rumble Bets On AI Cloud Growth With Northern Data Takeover Plans

Rumble Inc. (NASDAQ:RUM) shares surged on Monday after the company reported second-quarter results and confirmed interest in an all-stock exchange offer to acquire Northern Data AG (OTC:NDTAF).

The company posted a net loss of $30.2 million, or 12 cents per share, missing analysts’ expectations for a loss of 7 cents. Revenue rose 12% year over year to $25.08 million, below the $26.78 million consensus. Adjusted EBITDA loss narrowed to $20.5 million from $28.7 million.

Monthly active users fell to 51 million from 59 million in the prior quarter, which management attributed to slower news and political commentary outside a U.S. election cycle. Average revenue per user increased 24% sequentially to 42 cents, driven by higher ...