The Bumble Inc. app is shown on an Apple iPhone in this photo illustration as the dating app operator made its debut IPO on the Nasdaq stock exchange February 11, 2021. REUTERS/Mike Blake/Illustrationbeat first-quarter profit and revenue estimates on Wednesday, helped by a rise in paying members crowding its dating apps to seek connection, sending the company's shares up 11% in after-hours trading.
Data from research firm Apptopia showed that Bumble downloads in the United States increased 20.6% during the first quarter, while monthly average users rose 13.7%, compared to a year earlier."Bumble App drove substantial revenue growth across the U.S. and international markets and delivered a significant sequential increase in paying users," Chief Executive Officer Whitney Wolfe Herd said in a statement.
For the current quarter, Bumble forecast revenue between $218 million to $221 million, which includes an unfavorable impact from the Ukraine conflict of $6 million, primarily in Badoo App. Analysts are expecting $224.16 million.
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