Social media companies Rumble (RUM 5.39%) had a good Tuesday for its stock. The share price shot up more than 5% on the day thanks to an earnings report that beat analysts’ expectations. This performance exceeded the ebullient S&P500which closed 1.7% higher on Tuesday.

Robust sales growth in the second quarter

Rumble’s second-quarter numbers were released after the market closed on Monday and show that the company generated revenue of $22.5 million, up a whopping 27% from the previous year and well above the average analyst estimate of $19.7 million.

Also improving on operational metrics was the number of average monthly users (MAUs), a key metric for social media companies. This number stood at 53 million in the quarter, compared to 50 million in the previous quarter. The company did not hesitate to mention that this was the tenth consecutive quarter with a number above 40 million.

Rumble, which is popular with right-leaning users, also narrowed its net loss, which came in at $26.8 million, or $0.13 per share, compared to the previous year’s deficit of $29.5 million. This was also good enough to beat the consensus estimate of forecasters, which had called for a loss of $0.15 per share.

Vague but optimistic forecast

In its earnings release, Rumble provided full-year guidance, but it was rather vague, saying: “If our sponsorship agreements with advertisers continue to perform as expected and political advertising increases as the election cycle intensifies, we expect our revenue to continue to grow at a steady rate throughout 2024.”

The only guidance the company provided regarding its profitability is that it plans to be “significantly” close to breaking even on non-GAAP (adjusted) earnings before interest, taxes, depreciation and amortization (EBITDA) in 2025.