Bumble Inc (BMBL.O) saw its first sequential fall in user growth since going public in February, as new pandemic limitations stifled demand in several areas, sending the dating app’s stock down over 9% in extended trade.
Total paying users declined 2% to 2.9 million in the third quarter from the previous quarter, as the global Delta variant increase caused new lockdowns, limiting consumer spending on dating app subscriptions and in-app purchases.
The economic pressures brought on by the health crisis in some regions had an impact on Bumble’s other dating app, Badoo, which is primarily utilized by the urban middle class.
Despite the dip, Bumble, based in Texas, raised its full-year revenue projection and said it was well-positioned for the following quarter as it expands overseas. Rival Match Group (MTCH.O), on the other hand, forecasted lower fourth-quarter revenue as COVID-19 wreaked havoc on the Tinder owner’s Asian operations.
According to Refinitiv IBES data projections of $198.8 million, Bumble forecasts current-quarter revenue between $208 million to $211 million, which is higher than analysts’ estimates of $206.0 million.
