Bumble Inc. BMBL shares are falling after the company reported its second-quarter financial results Wednesday. Here's a look at the details from the report.
The Details: Bumble reported quarterly earnings of 22 cents per share on $273.12 million of quarterly revenue which came in just under analyst estimates.
Bumble App Revenue increased 4.8% to $218 million, while Badoo App and Other Revenue decreased 2.2% to $50.6 million for the quarter. Total Paying Users increased to 4.1 million, and Total Average Revenue per Paying User (ARPPU) decreased to $21.37, compared to $23.23.
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“Our first chapter of the Bumble App launch delivered better women’s experiences and improved engagement,” said Lidiane Jones, CEO of Bumble.
“We are pleased with these early wins but it’s evident that to reignite the user growth engine for Bumble Inc. in the long term, we need to take a firm stance towards delivering customer value that goes beyond this launch. We are confident that the steps we are taking to strengthen our ecosystem, customer experience, and revenue strategy will revitalize our growth by making Bumble the best place for people to find successful and healthy connections in their lives,” Jones added.
Outlook: Bumble projects third-quarter revenue in a range of $269 million to $275 million, versus the $273 million estimate, with Bumble App Revenue of between $217 million and $221 million. Bumble sees adjusted EBITDA of between $77 million and $80 million and full-year revenue growth of 1% to 2%.
BMBL Price Action: According to Benzinga Pro, Bumble shares are down 28.06% after-hours at $5.80 at the time of publication Wednesday.
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