Bumble's Stock Plunges on Weak Q3 Forecast
After-Hours Trading Woes
Bumble (BMBL) shares plummeted over 35% in after-hours trading on Wednesday after the company released a weak third-quarter forecast.
Quarterly Revenue Disappointment
Bumble forecast third-quarter revenue below Wall Street estimates, signaling concerns about the dating app's future growth.
Financial Snapshot
- Q3 revenue forecast: $269-$275 million, below analysts' expectations of $282 million
- Q2 revenue: $275.51 million
- Adjusted EBITDA: $75.3 million, or 27.3% of revenue
Analysts Sound Alarm
"Bumble's guidance implies a slowdown in user growth and indicates challenges in monetizing its user base," said [analyst name] from [analyst firm].
Competition Heats Up
The online dating market is becoming increasingly competitive, with Bumble facing challenges from established players like Match Group and emerging rivals.
Revenue Outlook Slashed
Bumble also reduced its full-year revenue outlook, citing "headwinds in the advertising market" and "ongoing macro concerns."
Stock Performance
BMBL shares closed at $34.37 on Wednesday before plummeting in after-hours trading. The stock has lost over 50% of its value in the past year.
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