Why Bumble Stock Is Falling After Hours

Bumble Inc BMBL shares are trading higher in Wednesday's after-hours session after the company reported mixed financial results and issued guidance below analyst estimates.

Bumble said second-quarter revenue increased 18% year-over-year to $220.45 million, which beat the estimate of $219.44 million, according to Benzinga Pro. The online dating company reported a quarterly net loss of 3 cents per share, which missed the estimate for a loss of 1 cent per share.

Bumble app revenue grew 33.2% year-over-year to $169.6 million. Total paying users increased to 3 million, up from 2.9 million year-over-year. Total average revenue per paying user increased to $23.65, up from $20.88 in the prior year's quarter.

"With its powerful women-first approach, Bumble App drove robust paying user growth, while expanding to more markets around the globe," said Whitney Wolfe Herd, founder and CEO of Bumble.

Bumble expects third-quarter revenue to be between $236 million and $240 million versus the estimate of $244.93 million. The company expects full-year revenue to be between $920 million and $930 million versus the estimate of $934.07 million.

See Also: Coupang Shares Gain On Q2 Results, Raised FY Guidance

BMBL Price Action: Bumble has a 52-week high of $39.33 and a 52-week low of $15.41.

The stock was down 12.76% in after hours at $30.09 at press time.

Photo: 99mimimi from Pixabay.