{"id":34793,"date":"2023-05-04T22:22:06","date_gmt":"2023-05-04T22:22:06","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/bumble-forecasts-tepid-second-quarter\/"},"modified":"2023-05-04T22:24:45","modified_gmt":"2023-05-04T22:24:45","slug":"bumble-posts-robust-quarterly","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/bumble-posts-robust-quarterly\/","title":{"rendered":"Bumble posts robust quarterly revenue on sustained user spending"},"content":{"rendered":"<p>By Vansh Agarwal<\/p>\n<p>(Reuters) -Bumble Inc beat estimates for first-quarter revenue on Thursday as user spending on its eponymous dating app remained strong despite a looming recession, sending the company&#8217;s shares up 7% in aftermarket trading.  <\/p>\n<p>The parent company of Bumble, Badoo, and Fruitz, benefited from strong user growth during the quarter as more people opted to pay to find love and companionship. <\/p>\n<p>Bumble, however, reported its slowest revenue growth since going public in February 2021, with first-quarter revenue rising 15.7% year-over-year. <\/p>\n<p>New features such as &#8220;Compliments&#8221;, which allows users to engage by sending a note before they decide to connect, have helped Bumble cope with high inflation and rising interest rates. <\/p>\n<p>The company said during its earnings call that so far 15% of Bumble&#8217;s monthly active users had sent a compliment, and it was confident in its ability to grow that number. <\/p>\n<p>Bumble competes with Tinder-owner Match Group Inc which on Tuesday forecast second-quarter revenue below analysts&#8217; expectations, but said it is seeing signs of growth at Tinder. <\/p>\n<p>&#8220;Bumble&#8217;s strength in attracting female users should help them defend their market share against competitors, as they differentiate themselves by empowering women to make the first move,&#8221; said Nicholas Cauley, an analyst at Third Bridge. <\/p>\n<p>The company reported revenue of $242.9 million in the three-month period ended March 31, compared with analysts&#8217; estimates of $241.0 million, according to Refinitiv data.<\/p>\n<p>Total paying users increased to 3.5 million in the reported quarter, from 3 million a year earlier. Total paying users for Bumble app grew 31% to 2.3 million, while those for Badoo App and other paying users declined 7.4% to 1.1 miilion. <\/p>\n<p>The Austin, Texas-based company forecast current-quarter revenue between $254 million and $258 million, the mid-point of which is slightly below analysts&#8217; estimates of $256.63 million.<\/p>\n<p> (Reporting by Vansh Agarwal in Bengaluru; Editing by Shailesh Kuber)<\/p>\n<p><a href=\"https:\/\/lynettelockhart.com\/client\/bumble-posts-robust-quarterly\/file-photo-the-bumble-logo-is-seen-on-a-smartphone-2\/\"><img decoding=\"async\" src=\"https:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430UV-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ430UV-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Vansh Agarwal (Reuters) -Bumble Inc beat estimates for first-quarter revenue on Thursday as user spending on its eponymous dating app remained strong despite a looming recession, sending the company&#8217;s shares up 7% in aftermarket trading. The parent company of Bumble, Badoo, and Fruitz, benefited from strong user growth during the quarter as more people [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":34807,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[1223],"class_list":["post-34793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ430UV-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=34793"}],"version-history":[{"count":4,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34793\/revisions"}],"predecessor-version":[{"id":35020,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/34793\/revisions\/35020"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/34807"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=34793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=34793"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=34793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}