Bumble Inc shares (NASDAQ: BMBL) are up more than 35% this morning after the dating app reported better-than-expected results for its fiscal first quarter and reiterated its guidance for the full year.
Key takeaways from Bumble Inc Q1 results
- Earned $23.9 million in Q1 versus the year-ago figure of $323.4 million.
- Per-share earnings of 13 cents were much worse than last year’s $1.69.
- Revenue jumped 24% to $211.2 million, as per the earnings press release.
- FactSet consensus was for 12 cents of EPS on $208.3 million in revenue.
- ARPPU climbed YoY from $19.99 to $22.76 in the recent financial quarter.
- Bumble app added 134K paying users, bringing the total to 1.8 million (31% up).
- The company had 3.0 million “total” paying users by the end of its first quarter.
Bumble attributed the YoY decline in profit to income tax benefit of $2.40 million only in Q1 versus $436.6 million a year ago. The stock is still down 30% year-to-date.
Bumble Inc full-year revenue guidance
Bumble expects the Ukraine war to result in a $20 million hit to revenue. Still, it reiterated its full-year guidance for $934 million to $944 million in revenue – in line with experts’ forecast. In the earnings press release, CEO Whitney Wolfe Herd said:
Bumble App drove substantial revenue growth across the U.S. and international markets. Our compelling brands, product leadership, and operational excellence position us well to capture a growing share of the global dating market.
In March, BMO analyst Daniel Salmon said Bumble could be a $48 stock, that represents a 100% upside from here.
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Source: https://invezz.com/news/2022/05/12/bumble-shares-shot-up-35-this-morning-whats-fuelling-the-stock/