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Vimeo, Inc. (VMEO) delivered earnings and revenue surprises of 80% and 0.52%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
NEW YORK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Vimeo, Inc. (NASDAQ: VMEO), today announced the dates for its fourth quarter 2022 earnings release and earnings video event. After the close of market trading on Monday, February 27, 2023, Vimeo will post its fourth quarter results on the Investor Relations section of its website at https://www.vimeo.com/investors . On Tuesday, February 28, 2023, at 8:30 a.m. ET, Vimeo will live stream a video conference to answer questions regarding its fourth quarter results. The live stream and replay of the video will be open to the public at https://www.vimeo.com/investors .
Despite focusing on enterprise users, VMEO is failing to attract more enterprises to its offerings. VMEO has been losing subscribers for the past 4 months which is a major red flag in this industry.
In the middle of another rough session on Wall Street, video services platform provider Vimeo (NASDAQ: VMEO ) contributed its own jitters. On Wednesday, management announced to its employees that it would lay off 11% of the workforce.
The rash of layoffs come after tech companies hired aggressively during the pandemic. But fears of a recession in 2023 have put the brakes on growth.
Vimeo on Wednesday became the latest company to announce a reduction in its workforce due to deteriorating economic conditions. The cuts will impact nearly every department.
Vimeo has launched another round of layoffs, a company spokesperson confirmed to Insider on Wednesday.
More businesses are using video as part of their communication strategy. Vimeo, Inc. offers a turn-key solution with agnostic distribution.
Vimeo, Inc. (NASDAQ:VMEO ) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Anjali Sud - CEO Gillian Munson - CFO Conference Call Participants Bill Kerr - Cowen Tom Champion - Piper Sandler Brian Fitzgerald - Wells Fargo Operator Good morning, and thank you for joining Vimeo's Q3 Earnings Live Q&A. We're excited to be here in front of you.
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.