Latest news with #Tinder-parent
The Star
08-05-2025
- Business
- The Star
Bumble forecasts second-quarter revenue below estimate
FILE PHOTO: The display outside the Nasdaq MarketSite is pictured as the dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange during the company's IPO in New York City, New York, U.S., February 11, 2021. REUTERS/Mike Segar/ File Photo (Reuters) -Bumble forecast second-quarter revenue below analysts' estimate on Wednesday, signaling that the dating app operator's turnaround plan is taking longer than expected to yield results. The online dating industry has been grappling with declining user engagement stemming from market stagnation, sticky inflation and a lack of innovative features, prompting companies such as Bumble and its bigger rival Tinder-parent Match to refine their applications to pull subscribers. Paying users for Bumble app decreased 1% to 2.7 million during the first quarter. Bumble is in early stages of revamping its application — a venture that analysts have said may take time to effectively monetize. Earlier this year, the company had said these initiatives were aimed at strengthening the dating app operator's market position and delivering quality features such as integrating artificial intelligence to its platform to enhance users' security. The company expects second-quarter revenue to be between $235 million and $243 million, compared with analysts' average estimate of $243 million, according to data compiled by LSEG. (Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
Yahoo
07-05-2025
- Business
- Yahoo
Bumble forecasts second-quarter revenue below estimate
(Reuters) -Bumble forecast second-quarter revenue below analysts' estimate on Wednesday, signaling that the dating app operator's turnaround plan is taking longer than expected to yield results. The online dating industry has been grappling with declining user engagement stemming from market stagnation, sticky inflation and a lack of innovative features, prompting companies such as Bumble and its bigger rival Tinder-parent Match to refine their applications to pull subscribers. Paying users for Bumble app decreased 1% to 2.7 million during the first quarter. Bumble is in early stages of revamping its application — a venture that analysts have said may take time to effectively monetize. Earlier this year, the company had said these initiatives were aimed at strengthening the dating app operator's market position and delivering quality features such as integrating artificial intelligence to its platform to enhance users' security. The company expects second-quarter revenue to be between $235 million and $243 million, compared with analysts' average estimate of $243 million, according to data compiled by LSEG. (Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
Reuters
19-02-2025
- Business
- Reuters
Bumble shares slide after weak forecast signals slow dating app turnaround
Feb 19 (Reuters) - Bumble's (BMBL.O), opens new tab shares fell 16% on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users. Shares of the Austin, Texas-based company have slumped about 40% over the past 12 months. Bumble recently announced executive changes including the return of its founder Whitney Wolfe Herd as its chief executive in March. Over the past year, the company has cut jobs, refreshed its Bumble app and expanded its signature "make the first move" feature to include " opening moves" that allow women to set a question that their potential matches can respond to for better conversations. "There's clearly more work to be done on the turnaround and we see visibility limited as management did not provide full-year guidance for the first time," Citi analyst Ygal Arounian said. The company is set to lose more than $142 million in market value, if premarket losses hold. As of last close, Bumble's valuation stood at $876.3 million compared with Tinder-parent Match Group's $8.85 billion. Bumble said it would discontinue its Fruitz and Official dating apps by the first half of this year. "As we prioritize the execution of the important work we're undertaking to reposition Bumble App, we have taken a hard look at how we're allocating our resources across our portfolio," said departing CEO Lidiane Jones. At least six brokerages cut their price target on Bumble after its latest earnings report. Bumble currently trades at 9.98 times the estimates of its earnings for the next 12 months, compared with 16.51 times for bigger rival Match Group (MTCH.O), opens new tab.
Yahoo
19-02-2025
- Business
- Yahoo
Bumble shares slide after weak forecast signals slow dating app turnaround
(Reuters) - Bumble's shares fell 16% on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users. Shares of the Austin, Texas-based company have slumped about 40% over the past 12 months. Bumble recently announced executive changes including the return of its founder Whitney Wolfe Herd as its chief executive in March. Over the past year, the company has cut jobs, refreshed its Bumble app and expanded its signature "make the first move" feature to include "opening moves" that allow women to set a question that their potential matches can respond to for better conversations. "There's clearly more work to be done on the turnaround and we see visibility limited as management did not provide full-year guidance for the first time," Citi analyst Ygal Arounian said. The company is set to lose more than $142 million in market value, if premarket losses hold. As of last close, Bumble's valuation stood at $876.3 million compared with Tinder-parent Match Group's $8.85 billion. Bumble said it would discontinue its Fruitz and Official dating apps by the first half of this year. "As we prioritize the execution of the important work we're undertaking to reposition Bumble App, we have taken a hard look at how we're allocating our resources across our portfolio," said departing CEO Lidiane Jones. At least six brokerages cut their price target on Bumble after its latest earnings report. Bumble currently trades at 9.98 times the estimates of its earnings for the next 12 months, compared with 16.51 times for bigger rival Match Group.
