Why Bumble Shares Are Buzzing After Hours

Bumble Inc BMBL shares are trading higher in Wednesday's after-hours session after the company reported better-than-expected financial results.

Bumble said first-quarter revenue increased 24% year-over-year to $211 million, which beat the $208.37-million estimate, according to data from Benzinga Pro. Bumble app revenue increased 38% year-over-year to $155 million. Bumble app paying users increased 31% year-over-year to 1.8 million. The company noted that it added 134,000 paying app users during the first quarter.

Bumble reported quarterly earnings of 13 cents per share, which beat the estimate for a loss of 3 cents per share.

Bumble said it expects second-quarter revenue to be between $218 million and $221 million versus the $224.46-million estimate. Adjusted EBITDA is expected to be between $51 million and $53 million in the second quarter. 

Bumble expects full-year 2022 revenue to be between $934 million and $944 million versus the $940.28-million estimate.

See Also: Why Sonos Stock Is Surging After Hours

BMBL 52-Week Range: $15.41-$61.05.

The stock was up 7.83% in after hours trading at $18.92.

Photo: 5688709 from Pixabay.