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Financially, Rumble's performance in the fourth quarter of 2023 exceeded expectations, with reported revenues of $20.4 million, representing a notable increase compared to last year. While the year-end figures reflected a substantial rise in revenues, the company remained aware of the need to streamline operations and enhance efficiency to achieve sustained profitability.
Rumble said fourth-quarter revenue increased 2% year-over-year to $20.39 million, which missed the consensus estimates of $28.13 million, according to Benzinga Pro. The company reported a loss of 14 cents per share, which beat estimates for a loss of 22 cents per share.