: Bumble stock tumbles 18% after holiday earnings forecast comes up short


Bumble Inc. BMBL, -4.65% shares declined 18% in after-hours trading Wednesday following an earnings report that included a disappointing holiday forecast. The dating-app company reported fiscal third-quarter net earnings of $18.1 million, or 14 cents a share, up from a loss of 6 cents a share a year ago. Revenue increased to $232.6 million from $199.1 million in the same quarter last year. Analysts on average expected earnings of a penny a share on sales of $237.4 million. For the fiscal fourth quarter, Bumble executives guided for revenue of $232 million to $237 million, suggesting little or no sequential sales growth; analysts on average were projecting holiday revenue of $253.7 million, according to FactSet. Executives forecast adjusted Ebitda of $57 million to $59 million, while analysts on average were looking for $64.5 million, according to FactSet. After closing with a 4.7% decline at $20.93, shares dove closer to $17 in after-hours trading immediately following the release of the results.

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

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