Shares of Bumble slid Wednesday despite reporting earnings that beat expectations, as soft guidance had some shareholders dumping the company's stock.
The dating app posted revenue of $260 million, up 18% year-over-year and above Street expectations of $256.6 million. Earnings were $0.05 per share, up from a loss of $0.03 per share a year earlier and topping expectations of $0.03 per share.
The number of Bumble paying users increased 28% year-over-year to 2.5 million, growing by 139,000 quarter-over-quarter.
Bumble issued third-quarter revenue guidance in the range of $274 million to $280 million and adjusted EBITDA in the range of $71 million to $73 million.
For the full year, Bumble projects revenue between $1.05 billion and $1.07 billion and adjusted EBITDA margin growth of at least 100 basis points.
That didn’t beat analyst expectations, as investors had hoped.
Shares of Bumble fell nearly 8% Wednesday morning to $16.58.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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