Bumble Inc. reported a decline in paying users by 8.7%, totaling 3.8 million for Q2, leading to an 8% drop in shares after extended trading. The company is addressing “dating fatigue” with AI-driven features, yet analysts believe it lags behind rival Match Group, impacting user growth. Bumble recorded a hefty net loss of $367 million due to significant non-cash impairment charges, contrasting with a profit of $37.7 million the previous year. Amid these challenges, Bumble is launching an innovative coaching hub and a new Bumble BFF app designed to attract Gen Z customers and foster offline friendships through community events. Despite setbacks, Q2 revenue reached $248.2 million, exceeding analyst expectations of $245.1 million. Looking ahead, Bumble anticipates third-quarter revenue to align with and slightly exceed estimates at $240-$248 million. The company’s recent appointment of Kevin Cook as CFO signals potential restructuring for growth and re-engagement.
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