Why Bumble's Stock Is Trading Higher Thursday

Bumble Inc BMBL shares are trading higher, reversing from earlier weakness after the company reported Q2 earnings results and issued Q3 and FY21 guidance.

Bumble reported quarterly losses of 6 cents per share. The company reported quarterly sales of $186.00 million which beat the analyst consensus estimate of $177.51 million.

"In the second quarter, we remained focused on executing against our strategic priorities and delivered strong growth in paying users, engagement and monetization across both Bumble app and Badoo app. Our results are a reflection of the appeal of our mission, and the result of the investments we are making in our product offerings, our technology, our international expansion efforts, and our ongoing commitment to our members," said Whitney Wolfe Herd, Founder and CEO of Bumble.

"More people across the globe are benefiting from our brands, given the growing desire for healthy and equitable relationships," Wolfe noted.

Bumble offers online dating services. The company operates two apps, Bumble and Badoo, where users come on a monthly basis to discover new people and connect with each other.

Bumble has a 52-week high of $84.80 and a 52-week low of $38.91.