Bumble Shares Soar On Q1 Earnings Beat: The Details
Portfolio Pulse from Vaishali Prayag
Bumble Inc. (NASDAQ:BMBL) shares surged over 12% after reporting Q1 2024 earnings that exceeded expectations. EPS was 19 cents, beating estimates by 171.43%, and sales reached $267.77 million, surpassing forecasts. The company saw a 10.2% revenue increase, with Bumble App revenue up by 11.1%. Bumble anticipates Q2 revenue between $269 million and $275 million, with full-year 2024 targets of 8% to 11% revenue growth. Analysts from Evercore ISI Group, Goldman Sachs, and Deutsche Bank provided mixed price target adjustments.
May 09, 2024 | 6:26 pm
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Bumble Inc. shares soared following a significant Q1 2024 earnings beat, with EPS and sales exceeding expectations and revenue growth forecasts remaining strong.
Bumble's stock price surged due to its Q1 earnings significantly surpassing analyst expectations, indicating robust financial health and growth prospects. The positive outlook from analysts, including price target adjustments, further supports the potential for continued stock appreciation in the short term.
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