Bumble Adds Users, Makes Profit, But Gives Cautious Outlook
Bloomberg 2 hrs ago Jackie Davalos
(Bloomberg) Bumble Inc., the dating app that gives women the first move, added new users in the first quarter and reported a jump in revenue, but remained cautious about how fast people will return to in-person socializing.
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“It’s still unpredictable,” Chief Financial Officer Anu Subramanian said on a call with analysts after reporting results. “There isn’t always a perfect correlation between when a market opens up and when people actually start engaging actively in the dating ecosystem.” The shares fell about 1% in late trading, after closing at $47.24 Wednesday in New York.
“It’s still unpredictable,” Chief Financial Officer Anu Subramanian said on a call with analysts after reporting results. “There isn’t always a perfect correlation between when a market opens up and when people actually start engaging actively in the dating ecosystem.” The shares fell about 1% in late trading, after closing at $47.24 Wednesday in New York.
Sales rose 43% from the same period a year earlier to $171 million, beating the average analyst estimate and the company’s own prediction made in March. Total paying users increased 30% to 2.8 million, with an average revenue per user of $19.99, a more than $2 increase over last year, Bumble said Wednesday in a statement.
Bumble said it anticipates total revenue in the range of $175 million to $178 million for the second quarter, up 31% year over year at the midpoint of the range. That s also slightly better than analysts surveyed by Refinitiv expected. It raised guidance and now anticipates full-year revenue in the range of $724 million to $734 million. We are being cautiously conservative due to the nature of the pandemic . none of us can predict what happens later this year around the globe, CEO Whitney Wolfe Herd told CNBC s TechCheck. The company isn t signaling we don t believe in the strength of our business, she added.
Bumble reported revenue of $170.7 million for the quarter, up from $79.1 million for the first quarter of 2020. Analysts were expecting $164.6 million. Total paying users also increased 30% to 2.8 million.
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Bumble Adds Users, Swings to Profit But Gives Cautious Outlook
Bloomberg 1 hr ago Jackie Davalos
(Bloomberg) Bumble Inc., the dating app that gives women the first move, added new users in the first quarter and reported a jump in revenue, but remained cautious about how fast people will return to in-person socializing.
“It’s still unpredictable,” Chief Financial Officer Anu Subramanian said on a call with analysts after reporting results. “There isn’t always a perfect correlation between when a market opens up and when people actually start engaging actively in the dating ecosystem.” The shares fell about 2.4% in late trading, after closing at $47.24 Wednesday in New York.