Bumble Inc BMBL shares are trading lower in Wednesday's after-hours session after the company reported its third-quarter financial results and issued guidance below analyst estimates.
Bumble said third-quarter revenue increased 16.8% year-over-year to $232.6 million, which missed average analyst estimates of $237.53 million, according to Benzinga Pro. The company reported quarterly earnings of 14 cents per share, up from a loss of 6 cents per share year-over-year.
"We continue to see resilient usage and engagement trends across our family of apps. Bumble App continued to gain share across most major markets while driving record paying user additions and we also made encouraging progress with Badoo," said Whitney Wolfe Herd, founder and CEO of Bumble.
Bumble expects fourth-quarter revenue to be between $232 million and $237 million versus average estimates of $254.46 million. Fourth-quarter adjusted EBITDA is expected to be between $57 million and $59 million.
BMBL Price Action: Bumble shares were down 15.6% in after hours at $17.67 at time of publication.
Photo: amrothman from Pixabay.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.