<p>视频平台 <strong>Vimeo</strong>(VMEO 42.10%) 的股票在周二大幅上涨，此前该公司公布了 2024 年第三季度的财务业绩。截至东部时间上午 11:15，Vimeo 的股价上涨了惊人的 42%，达到了两年多以来的最高价。</p>
<h2>这一季度真的 _那么_好吗？</h2>
<p>在第三季度，Vimeo 的收入同比下降了近 2%。公司的毛利率为 79%，与去年持平。净收入为 900 万美元，而去年同期为 800 万美元。</p>
<p>这些数字并不引人注目，但 Vimeo 的盈利能力值得关注。公司削减了开支，使每股收益（EPS）和自由现金流达到了历史新高。考虑到潜在的市场变化，这一点非常重要。</p>
<p>Vimeo 的收入虽然下降，但其企业产品却在快速增长。第三季度，其企业平台的预订量增长了 39%，现在占整体预订的 25%。简而言之，公司在盈利能力上已经迎来了转机，并且拥有一个高增长的企业产品，可能会在未来几年将业务推向新的高峰。</p>
<h2>现在 Vimeo 的股票怎么样？</h2>
<p>另一个重要的背景是，在第三季度报告之前，Vimeo 的股票非常便宜。其交易价格仅为销售额的两倍，约为自由现金流的 16 倍。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e829905805c5484d2eda653ebff451f.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e829905805c5484d2eda653ebff451f.png"/></p>
<p>VMEO PS 比率数据来自 YCharts。</p>
<p>对于一个处于衰退中的企业来说，这可能是一个合理的估值。但如果 Vimeo 的企业视频平台正在获得 traction 并能够持续增长，那么这个估值就显得便宜。此外，即使在今天的上涨之后，这个估值仍然可能被认为是便宜的。</p>
<p>重要的是 Vimeo 能否继续盈利地扩展其企业平台。如果可以，那么股票可能还有更大的上涨空间。</p>

VMEO

<p>Vimeo（VMEO）的股价在公司公布 2024 年第三季度财务结果后飙升 42%。尽管收入同比下降近 2%，但 Vimeo 凭借削减开支实现了 79% 的毛利率，以及创纪录的每股收益和自由现金流。值得注意的是，其企业平台的预订量增长了 39%，现在占总预订量的 25%。该股票此前被低估，交易时的市销率为 2 倍，自由现金流倍数为 16 倍，这表明如果企业平台继续盈利扩展，仍有进一步增长的潜力</p>

<p>Shares of video platform <strong>Vimeo</strong>(VMEO 42.10%) 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.</p>
<div class="lb-trans"><p>视频平台 <strong>Vimeo</strong>(VMEO 42.10%) 的股票在周二大幅上涨，此前该公司公布了 2024 年第三季度的财务业绩。截至东部时间上午 11:15，Vimeo 的股价上涨了惊人的 42%，达到了两年多以来的最高价。</p>
</div><h2>Was the quarter really <em>that</em> good?</h2>
<div class="lb-trans"><h2>这一季度真的 _那么_好吗？</h2>
</div><p>In Q3, Vimeo's revenue was counterintuitively <em>down</em> almost 2% year over year. The company's gross margin was 79%, which was the same as last year. And it had net income of $9 million compared with net income of $8 million in the prior-year period.</p>
<div class="lb-trans"><p>在第三季度，Vimeo 的收入同比下降了近 2%。公司的毛利率为 79%，与去年持平。净收入为 900 万美元，而去年同期为 800 万美元。</p>
</div><p>These numbers don't jump off the page, but Vimeo's profitability is worth noting. The company has cut expenses, boosting its earnings per share (EPS) and free cash flow to all-time highs. And that's a big deal considering what's happening beneath the surface.</p>
<div class="lb-trans"><p>这些数字并不引人注目，但 Vimeo 的盈利能力值得关注。公司削减了开支，使每股收益（EPS）和自由现金流达到了历史新高。考虑到潜在的市场变化，这一点非常重要。</p>
</div><p>Vimeo's revenue is down, but its enterprise product is growing by leaps and bounds. Bookings for its enterprise platform were up 39% in Q3 and now constitute 25% of overall bookings. In short, the company has turned the corner on profitability, and it has an enterprise product that's high-growth and could carry the business to new highs in coming years.</p>
<div class="lb-trans"><p>Vimeo 的收入虽然下降，但其企业产品却在快速增长。第三季度，其企业平台的预订量增长了 39%，现在占整体预订的 25%。简而言之，公司在盈利能力上已经迎来了转机，并且拥有一个高增长的企业产品，可能会在未来几年将业务推向新的高峰。</p>
</div><h2>What about Vimeo stock now?</h2>
<div class="lb-trans"><h2>现在 Vimeo 的股票怎么样？</h2>
</div><p>The other important bit of context here is that Vimeo stock was really cheap leading up to its Q3 report. It traded at just two times its sales and at about 16 times its free cash flow.</p>
<div class="lb-trans"><p>另一个重要的背景是，在第三季度报告之前，Vimeo 的股票非常便宜。其交易价格仅为销售额的两倍，约为自由现金流的 16 倍。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/1e829905805c5484d2eda653ebff451f.png" alt="" original-src="https://media.ycharts.com/charts/1e829905805c5484d2eda653ebff451f.png"/></p>
<p>VMEO PS Ratio data by YCharts.</p>
<div class="lb-trans"><p>VMEO PS 比率数据来自 YCharts。</p>
</div><p>For a business in decline, that was probably a fair valuation. But if Vimeo's enterprise-video platform is gaining traction and can keep growing, then the valuation was cheap. Moreover, the valuation could still prove to be cheap even after today's jump.</p>
<div class="lb-trans"><p>对于一个处于衰退中的企业来说，这可能是一个合理的估值。但如果 Vimeo 的企业视频平台正在获得 traction 并能够持续增长，那么这个估值就显得便宜。此外，即使在今天的上涨之后，这个估值仍然可能被认为是便宜的。</p>
</div><p>What matters is whether Vimeo can continue to profitably scale its enterprise platform. If it can, then the stock could have more upside.</p>
<div class="lb-trans"><p>重要的是 Vimeo 能否继续盈利地扩展其企业平台。如果可以，那么股票可能还有更大的上涨空间。</p>
</div>

以下是 Vimeo 股票今天大幅飙升的原因