Investing.com – Vimeo (NASDAQ:VMEO) stock jumped 13% Wednesday as the company reported a 33% on-year jump its September revenue.
Revenue in August had grown as much while July revenue was up 35%.
The company said it has not yet completed its financial reports for September.
The jump in revenue followed robust growth in subscribers as well as average revenue per user. The subscriber base at the end of September was up 14% from the same month last year. It had risen 15% in August.
September ARPU rose 16%, following a 15% gain in each of the two previous months on a year-on-year basis.
Vimeo is an all-in-one video software solution company catering to businesses — expected to be a $70-billion market opportunity by 2024.
The shares of the company made a high-profile debut on the Nasdaq on May 25. They fell 16% after touching a high of $58 on their debut. They have lost more than 48% of their value since then.
Vimeo’s first-quarter revenue had risen 57% year-on-year to $89.4 million. Operating loss had narrowed to $5.6 million from $17.2 million.