Bumble Q2 Results Miss Street; Outlook Weak; Shares Tank 13%

(RTTNews) - Shares of Bumble Inc. (BMBL) tanked nearly 13% in extended trading session on Wednesday after the company reported results for the second quarter that missed Street estimates and also issued a weak outlook for the full year and third quarter.

Second-quarter net loss was $6.4 million or $0.03 per share, compared to net loss of $11.1 million or $0.06 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.01 per share for the quarter.

Revenues for the quarter increased 18.4% to $220.5 million from $186.2 million. Analysts had a consensus revenue estimate of $219.37 million for the quarter.

Bumble app revenue grew 33.2% to $169.6 million, while Badoo app and other revenue declined 13.7% to $50.8 million. Total average revenue per paying user increased to $23.65, compared to $20.88.

Looking forward to the third quarter, Bumble expects revenues of $236 million to $240 million. Analysts currently estimate revenues of $244.93 million.

For the full year 2022, the company expects revenues of $920 million to $930 million. Analysts currently estimate revenues of $934.07 million.

BMBL closed Wednesday's trading at $34.49, down $0.59 or 1.68%, on the Nasdaq. The stock further slipped $4.46 or 12.93%, in the after-hours trading.