Whitney Wolfe Herd speaks on stage in Dana Point, California.
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Bumble on Wednesday posted revenue of $ 165.6 million, exceeding Wall Street forecasts for its first quarterly report since it went public in February. The stock rose about 5% in extended negotiation.
Here’s what the company reported in the fourth quarter, compared to what the Wall Street analysts polled by Refinitiv had expected:
- Loss per share: 1 cent
- Recipe: $ 165.6 million against expected revenue of $ 163.3 million.
Wall Street expected a quarterly loss of 13 cents per share. CNBC does not compare reported earnings per share with expectations for a company’s first report as a publicly traded company, as uncertain stock counts can skew forecasts.
Revenue grew 31% year over year, with the company’s Bumble app raising $ 105.8 million over the period and its Badoo app posting $ 59.8 million.
Still, the company reported a net loss of $ 26.1 million, compared to a net profit of $ 17.2 million during the same period last year.
Bumble went public in February with an initial public offering of $ 2.2 billion, gaining a foothold in the online dating market alongside industry leader Match Group, which operates the popular dating apps Tinder and Hinge.
Bumble operates its eponymous application mainly in the USA, United Kingdom, Australia and Canada and a similar offer, Badoo, mainly in Europe and Latin America.
Bumble’s unique selling point for his main app is simple: In heterosexual matches, only women can send messages first after expressing interest to each other, and men must respond within 24 hours. In homosexual matches, either party can send a message first.
The company registered 2.7 million paying users in the fourth quarter, an increase of 32.5% over the fourth quarter of 2019. This number includes paying subscribers to the Bumble app and the Badoo app. Bumble did not release recent numbers for total app users, but in September 2020 the company registered 42.1 million monthly active users.
Dating apps have seen an increase in usage, as Covid-19 blocks kept singles at home and online. Bumble reported a 26% increase in the number of messages sent on his platform during March 2020, a company spokesman told CNBC in May.
Total average revenue per user during the fourth quarter reached $ 20.02, compared to $ 19.99 during the fourth quarter of 2019.
For the first quarter of 2021, Bumble expects revenue of $ 163 million to $ 165 million. For the entire year 2021, Bumble is forecasting revenue of $ 716 million to $ 726 million.
—MacKenzie Sigalos of CNBC contributed to this report.
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