Bumble projects quarterly revenue below estimates, shares fall

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:Bumble forecast fourth-quarter revenue below Wall Street estimates on Tuesday, in a sign that sticky inflation and growing competition were weighing on user spending on its dating apps, sending its down more than 6 per cent in extended trading.

The display outside the Nasdaq MarketSite is pictured as the dating app operator Bumble Inc. made its debut on the Nasdaq stock exchange during the company's IPO in New York City, New York, U.S., February 11, 2021. REUTERS/Mike Segar/File Photo

Total paying users on the parent company of Bumble, Badoo and Fruitz increased to 3.8 million in the third quarter, compared with 3.3 million a year earlier, it said. The CEO change marks the second big executive departure at the company — shares of which have lost around a third of their value so far this year over concerns of slowing growth.

Source: Digital Coin News (digitalcoinnews.net)

 

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