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Bumble forecasts downbeat quarterly revenue as paying users drop
['Wed', 'August At Pm Gmt', 'Min Read']
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Aug 5 (Reuters) - Bumble on Wednesday forecast third-quarter revenue below Wall Street estimates, as paying users declined during an ongoing platform overhaul to win back swipe-weary Gen Z users.
• It forecast third-quarter revenue of $205 million to $213 million, below analysts' average estimate of $215.1 million, according to data compiled by LSEG.
• Bumble, which operates the women-first Bumble app along with Bumble For Friends and Bumble Bizz, forecast third-quarter adjusted EBITDA of $56 million to $60 million.
• Total paying users decreased 16.4% to 3.2 million, while average revenue per paying user rose 1.2% to $21.96.
• Peer Match Group also forecast third-quarter revenue below Wall Street estimates on Tuesday.