Vimeo, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 09:16 am EDT
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Vimeo, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 101.84 million compared to USD 110.98 million a year ago. Net income was USD 5.87 million compared to net loss of USD 26.5 million a year ago. Basic earnings per share from continuing operations was USD 0.04 compared to basic loss per share from continuing operations of USD 0.16 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.16 a year ago.
For the six months, sales was USD 205.42 million compared to USD 219.33 million a year ago. Net income was USD 5.17 million compared to net loss of USD 53.06 million a year ago. Basic earnings per share from continuing operations was USD 0.03 compared to basic loss per share from continuing operations of USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.03 compared to diluted loss per share from continuing operations of USD 0.33 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.