Bumble Shares Fall After Q2 Revenues Miss: Details
Portfolio Pulse from Erica Kollmann
Bumble Inc. (NASDAQ:BMBL) shares fell after the company reported Q2 earnings of 22 cents per share on $273.12 million in revenue, missing analyst estimates. Bumble App revenue increased by 4.8%, while Badoo App and other revenue decreased by 2.2%. Total paying users increased to 4.1 million, but ARPPU decreased. Bumble projects Q3 revenue between $269 million and $275 million, with full-year revenue growth of 1% to 2%. Shares dropped 28.06% after-hours.
August 07, 2024 | 9:15 pm
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Bumble Inc. reported Q2 earnings of 22 cents per share on $273.12 million in revenue, missing analyst estimates. Bumble App revenue increased by 4.8%, while Badoo App and other revenue decreased by 2.2%. Total paying users increased to 4.1 million, but ARPPU decreased. Shares dropped 28.06% after-hours.
The miss on revenue estimates and the decrease in ARPPU are significant negative factors. Despite some positive aspects like the increase in total paying users and Bumble App revenue, the overall financial performance did not meet market expectations, leading to a sharp decline in share price.
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