Bumble Reports Q4 Results: EPS Miss, Revenue Miss, Workforce Reductions
Portfolio Pulse from Erica Kollmann
Bumble Inc. (NASDAQ:BMBL) reported Q4 financial results with a loss of 19 cents per share, missing the analyst consensus of 12 cents. Quarterly sales were $273.64 million, below the expected $275.29 million. The company announced a workforce reduction of 350 roles, expecting charges of $20-$25 million, mainly in the first half of 2024. Bumble anticipates Q1 revenue between $262-$268 million and full-year 2024 revenue growth of 8%-11%. Shares dropped 6.68% after-hours to $12.30.
February 27, 2024 | 9:33 pm
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Bumble Inc. reported lower-than-expected Q4 earnings and revenue, announced significant workforce reductions, and provided a cautious revenue outlook for Q1 and full-year 2024. Shares fell 6.68% after-hours.
The reported earnings miss and revenue shortfall, combined with the announcement of workforce reductions, signal potential operational and financial challenges. The cautious revenue outlook for the upcoming quarters further contributes to a negative short-term sentiment. The after-hours stock price movement reflects immediate investor reaction to these developments.
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