Bumble Stumbles in Afterhours as Q3 Guidance Falls Short
2022.08.11 00:02
Bumble Stumbles in Afterhours as Q3 Guidance Falls Short
Budrigannews.com – Bumble reported wider-than-expected second-quarter losses and forecast softer current quarter guidance flagging a hit from the Ukraine war and a stronger dollar.
Bumble Inc (NASDAQ:BMBL) was down more than 12% in afterhours trading following the report.
Bumble reported a loss of 3 cents, missing Wall Street estimates for a loss of a penny, but revenue of $220.45 million topped estimates for $219.6 million.
More New Amazon app for sporting goods
The beat on the top line was driven by a 33% increase in Bumble app revenue as app paying users grew 31% to 1.9 million, taking total paying users to 3.0 million, up from 2.9 million in the same period a year ago.
Revenue per paying user increased to $23.65 from $20.88 as the company expanded into more markets globally.
Looking to the third quarter, the company forecast revenue in a range of $236 million to $240 million, flagging a $6 hit from the Ukraine war and $12 million from the stronger dollar. That compared with Wall Street estimates for $245 million.
For the full-year, revenue was expected to be in a range of $920 million to $930 million, down from prior guidance of between $934 million to $944 million.
