Rumble (NASDAQ: RUM) shares surged 17% in premarket trading after reporting second-quarter earnings and announcing plans for a $1.17 billion all-stock bid to acquire AI cloud-computing firm Northern Data. The offer values Northern Data at $18.27 per share based on Rumble’s Friday close.
- Q2 loss: $30.2M (12¢/share) vs. $26.8M loss (13¢/share) last year; estimate: 7¢ loss
- Revenue: $25.1M, up 12% YoY but below $26.8M estimate
- Monthly active users: 51M, down from 59M in Q1
- ARPU: $0.42, up 24% QoQ from higher subscription and licensing revenue
- Proposed deal: 2.319 Rumble shares per Northern Data share (~$1.17B total value)
- Northern Data shares down 9% Monday; company open to discussions
Relevant Companies
- Rumble (RUM) – Announced $1.17B all-stock bid for Northern Data alongside Q2 results.
- Northern Data (NB2) – AI cloud-computing firm evaluating acquisition offer from Rumble.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
