Investing
Bumble drops 6% on Q3 revenue miss & weak guidance
© Reuters. Bumble drops 6% on Q3 revenue miss & weak guidance
Bumble (BMBL) shares fell more than 6% after-hours following the company’s reported Q3 results, with revenue of $275.5 million (up 18.4% year-over-year) coming in worse than the consensus estimate of $277.11M. Quarterly EPS was $0.12, compared to the consensus estimate of $0.07.
Bumble App revenue grew 22.8% year-over-year to $221.8M, while Badoo App and other revenue increased 3.3% to $53.7M.
Total paying users increased to 3.8M, compared to 3.3M in the corresponding quarter of the previous year, with total average revenue per paying user (ARPPU) growing to $23.42, up from $22.96.
For Q4/23, the company expects revenues to be in the range of $272-$278M, missing the consensus estimate of $286.56M. Full-year revenue is seen at $1.050-$1.056 billion, compared to the consensus of $1.07B.
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