Bumble Q3 Revenue Misses Estimates By A Whisker Despite Double-Digit Y/Y Growth, Guides Q4 Below-Consensus
Portfolio Pulse from Lekha Gupta
Bumble Inc reported Q3 FY23 revenue of $275.5 million, missing the consensus of $276.97 million. Bumble App Revenue rose 22.8% Y/Y to $221.8 million. Total Paying Users increased to 3.8 million from 3.3 million the prior year. Adjusted EBITDA rose to $75.3 million from $61.8 million the prior year. The company didn't repurchase any shares under its previously announced $150.0 million share repurchase program. In Q4, the company expects revenue of $272 million-$278 million (vs. consensus of $286.56 million) and adjusted EBITDA of $72 million-$75 million. BMBL shares are trading lower by 7.30% at $12.44 premarket on the last check Wednesday.
November 08, 2023 | 1:41 pm
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NEGATIVE IMPACT
Bumble's Q3 revenue missed estimates and the company did not repurchase any shares under its $150M program. The company's Q4 revenue is expected to be below consensus. BMBL shares are down 7.3% premarket.
Bumble's Q3 revenue missed estimates, which could negatively impact investor sentiment. The company's decision not to repurchase any shares under its $150M program could also be seen as a lack of confidence in its own stock. Furthermore, the company's Q4 revenue is expected to be below consensus, which could further dampen investor sentiment. These factors are likely contributing to the premarket drop in BMBL shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100