VMEO - Why Vimeo Stock Dropped 27% on Thursday
Shares of Vimeo (NASDAQ: VMEO) dropped 27% on Thursday after the company released its third-quarter results. Earnings for the video software company were in line with analyst expectations, but guidance for the fourth quarter and 2022 were disappointing, which caused the stock to drop today. As of this writing, shares of Vimeo are down 26.7%.
After the market closed on Nov. 3, Vimeo released its results for the three months ending in September. Revenue grew 33% year over year to $100 million, and the company had diluted earnings per share (EPS) of negative $0.07. Both numbers were right around analyst expectations, so the results were likely not why the stock is down so much today.
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Why Vimeo Stock Dropped 27% on Thursday