) forecast fourth-quarter revenue below Wall Street estimates on Tuesday as it faces stiff competition from rival online dating services, sending its shares down about 15% in extended trading.
The owner of OkCupid and PlentyOfFish expects current-quarter total revenue between $545 million and $555 million, below analysts’ estimate of $559.3 million, according to IBES data from Refinitiv. Bumble also stepped up by launching its app in India late last year, a market with a huge potential for dating-related services.
Tinder — which has made “swipe left” and “swipe right” a point of pop culture conversations - added 437,000 average subscribers in the quarter bringing its total average subscriber count to 5.7 million.
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