Bumble (NASDAQ:BMBL) stock is falling hard on Thursday following the release of the dating services company’s earnings report for the second quarter of 2024.
The bad news for investors in BMBL stock starts with the company’s revenue of $268.62 million. This is below Wall Street’s revenue estimate of $272.94 million for the quarter. That’s despite it increasing 3.4% from $259.7 million in Q2 2023.
This brings down BMBL stock today, even with adjusted earnings per share of 25 cents — which is better than the 23 cents per share Wall Street was expecting for the quarter.
Here’s what Bumble CEO Lidiane Jones said in the earnings report:
“We are pleased with these early wins but it’s evident that to reignite the user growth engine for Bumble Inc. in the long term, we need to take a firm stance towards delivering customer value that goes beyond this launch. We are confident that the steps we are taking to strengthen our ecosystem, customer experience, and revenue strategy will revitalize our growth by making Bumble the best place for people to find successful and healthy connections in their lives.”
BMBL Stock Looking Forward
Bumble’s guidance in its latest earnings report includes a Q3 revenue outlook of $269 million to $275 million. This would miss Wall Street’s estimate of $296.13 million. Bumble also provides a 2024 revenue guidance of growth between 1% to 2% year-over-year.
BMBL stock is down 33.4% as of Thursday morning alongside its mixed earnings report.
There are plenty of other stock market stories worth reading about today!
We have all of them ready to go with our latest stock market coverage for Thursday! Among that is what has shares of Warner Bros Discovery (NASDAQ:WBD) stock and Under Armour (NYSE:UA) stock in the news today. You can find all of this at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
