Bumble Inc. on Wednesday said it added users and saw revenue growth in the third quarter, and raised its revenue and Ebitda outlook for the full year.
Bumble
BMBL,
-6.08%
shares initially rose after hours but were trading more than 9% lower as of 4:40 p.m. Eastern. They had fallen 6% in the regular session to close at $47.75.
The dating-site company said it now has 2.9 million users. Its revenue rose to $201 million from $162.3 million in the year-ago quarter. It reported a third-quarter net loss of $10.7 million, or 6 cents a share, compared with $22.8 million, or 1 cent a share, in the year-ago period. Adjusted Ebitda was $54.5 million, beating analysts’ expectation of $49.6 million.
Analysts surveyed by FactSet had forecast a loss of $4.7 million, or 1 cent a share, on revenue of $198.7 million.
While the company said revenue from its Bumble app was $142 million, an increase of 39%, revenue from its Badoo app and other sources fell 3% to $58 million.
Bumble expects fourth-quarter revenue of $208 million to $211 million, and adjusted Ebitda of between $53 million and $55 million. Analysts had forecast revenue of $205.9 million. For the full year, the company expects revenue of between $765 million and $768 million, and adjusted Ebitda of $205 million to $207 million. Analysts had expected full-year revenue of $761.6 million.
Shares of Bumble, which went public in February, have risen about 2.4% in the past three months. By comparison, the S&P 500 Index
SPX,
-0.82%
is up about 5.7% during that same period.
