Why Vimeo Stock Dived by 10% Today | The Motley Fool

Investors weren’t at all cheered by the company’s latest monthly update. What happened Video software and services company Vimeo (NASDAQ:VMEO) had a Tuesday to forget. The company’s stock fell by just over 10% on the day, thanks to some less-than-inspiring monthly metrics published after market hours on Monday. So what As is its habit, Vimeo unveiled an update of several of its key metrics, this time for the month of August. For the period, its year-over-year growth in total revenue was 33%, continuing a declining streak following a peak of 60% in March. Image source: Getty Images. Growth in average revenue per user, meanwhile, was 15%, matching the July rate. But that’s also down from the top levels of the preceding 13 months: 27%, achieved in December 2020 and February and March of this year. Finally, the one operational metric in the update, Vimeo’s subscriber count, also clocked in at 15% growth for August. More or less following the pattern of the other yardsticks, this is low compared to earlier this year, when it reached a high of 26% in February. Vimeo stressed that the August data is preliminary, and therefore subject to adjustment. Save for that note, the tech…
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