Here's Why Vimeo Stock Absolutely Skyrocketed Today
Vimeo(VMEO) The Motley Fool·2024-11-06 01:31
Is this overlooked stock finally a profitable growth company?Shares of video platform Vimeo (VMEO 41.37%) absolutely skyrocketed on Tuesday after the company reported financial results for the third quarter of 2024. As of 11:15 a.m. EST, Vimeo stock was up a staggering 42% and hitting its highest price in more than two years.Was the quarter really that good?In Q3, Vimeo's revenue was counterintuitively down almost 2% year over year. The company's gross margin was 79%, which was the same as last year. And it ...