Vimeo Shares Rise 15% After Surprise 3Q Profit – MarketWatch

By Ben Glickman Shares of Vimeo jumped after the company reported a surprise profit in the third quarter and revenue topped estimates. The stock was up 15% to $3.85 in after-hours trading, following a 2.1% rise at Monday’s close. The New York-based video sharing platform posted a third-quarter profit of $8.46 million, or 5 cents a share, compared with a loss of $21.4 million, or 13 cents a share, a year earlier. Analysts polled by FactSet expected a loss of 4 cents a share. Revenue sank 2% year-on-year to $106 million, but surpassed the $101 million forecast by analysts, according to FactSet. The company saw bookings grow 4%. Vimeo’s results were boosted by growth in its enterprise segment, which saw 53% revenue growth year-on-year. Write to Ben Glickman at ben.glickman@wsj.com
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