Bumble Shares Plummet After Weak Q1 Guidance And Decline In Paying Users

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Bumble Inc. BMBL shares are down sharply after the company reported fourth-quarter earnings that fell short of expectations and issued weak guidance for the first quarter.

What To Know: The company reported fourth-quarter revenue of $261.6 million, slightly ahead of the $260.47 million analyst consensus estimate but down from $273.64 million in the same period last year. Total paying users declined by 57,000 from the previous quarter.

Revenue from the Bumble app fell 3.8% to $212.4 million, while Badoo and other app revenue declined 6.8% to $49.3 million.

Total paying users increased 5.3% year over year to 4.2 million, and average revenue per paying user dropped to $20.58 from $22.64. While total paying users increased 5.3% year over year to 4.2 million, average revenue per paying user dropped from $22.64 to $20.58.

Soft guidance also appears to be weighing on shares today. The company sees first-quarter revenue guidance between $242 million and $248 million, below analysts estimates of $256.86 million.

BMBL Price Action: Bumble shares were down 26.1% at $5.98 at the time of writing, according to Benzinga Pro.

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