Last Updated: May 05, 2023, 02:10 IST
The Austin, Texas-based firm forecast current-quarter income between $254 million and $258 million. (Image: Bumble/Twitter)
The firm reported income of $242.9 million within the quarter ended March 31, in contrast with analysts’ estimates of $241.0 million, in line with Refinitiv information
Bumble Inc beat first-quarter income estimates on Thursday as consumer spending on its courting app has remained sturdy regardless of a looming recession, sending its shares up 4.6% in aftermarket buying and selling.
The firm reported income of $242.9 million within the quarter ended March 31, in contrast with analysts’ estimates of $241.0 million, in line with Refinitiv information.
New options comparable to “Compliments”, which allows users to engage by sending a note before they decide to connect, have helped the company cope with high inflation and rising interest rates.
Total paying users increased to 3.5 million in the reported quarter, from 3 million a year earlier, as users continued to seek love and companionship.
The Austin, Texas-based company forecast current-quarter revenue between $254 million and $258 million, the mid-point of which is $256 million, while analysts were expecting $256.63 million, according to Refinitiv data.
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