Bumble Drops 6 percent Following Q3 Results

Shares of Bumble (NASDAQ:BMBL) dropped over 6% pre-market today after the company reported third-quarter earnings.
The company’s revenue increased by 18.4% year-over-year to $275.5 million, which was slightly below the analyst expectations of $277.11 million. Earnings per share (EPS) for the quarter were at $0.12, surpassing the predicted $0.07.
Revenue from the Bumble App saw a significant increase of 22.8% from the previous year, reaching $221.8 million. Meanwhile, revenue from the Badoo App and other sources saw a modest rise of 3.3%, amounting to $53.7 million.
Looking forward to the fourth quarter of 2023, Bumble anticipates revenue to be between $272 million and $278 million, which is below the Street estimate of $286.56 million. The forecast for the full-year revenue is set to be between $1.050 billion and $1.056 billion, which is less than the market consensus of $1.07 billion.

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