Bumble earnings forecast comes up light, stock tumbles

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Shares of Bumble Inc. BMBL, -1.68% were falling more than 11% in after-hours trading Wednesday after the online-dating company came up shy of expectations with its outlook for the current quarter. The company posted a net loss of $4.4 million, or 3 cents a share, compared with a loss of $7.1 million, or 6 cents a share, in the year-earlier period. Analysts tracked by FactSet were projecting a GAAP per-share loss of 1 cent. Bumble’s revenue increased to $220.5 million from $186.2 million, while analysts were projecting $219.4 million. The latest quarter’s revenue total included a $9.4 million negative impact from currency movements. Bumble had 3.0 million paying users in the second quarter, up from 2.9 million in the year-prior quarter. The FactSet consensus was for 3.0 million. For the third quarter, Bumble anticipates $236 million to $240 million in revenue, whereas the FactSet consensus was for $244.9 million. Bumble’s revenue expectations include a projected $6 million negative impact from the war in Ukraine and a $12 million negative impact from foreign exchange. Executives also model adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $58 million to $60 million, while analysts were looking for $62 million. Shares of Bumble have surged 79% over the past three months, though they’re off 26% over a 12-month span. The S&P 500 SPX, +2.13% has risen 5.2% over three months and fallen 5.1% over 12 months.

This article was originally published by Marketwatch.com. Read the original article here.

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