Bumble ( NASDAQ: BMBL ) shares fell as much as 11% in after-hour trading Wednesday as the app-based dating services company forecast third-quarter revenue being impacted by foreign currency effects and the ongoing war in Ukraine.
Following the close of trading, Bumble ( BMBL ) said that it expects to report third-quarter sales in a range of $236M to $240M. Bumble ( BMBL ) said that its forecast included an estimated impact of $6M related to the war in Ukraine, with most of that related to the company's Badoo app and "other revenue." The company also said it expects to see an unfavorable impact of $12M related to foreign currency movements.
Bumble ( BMBL ) also forecast revenue of $184M to $187M from its flagship Bumble app.
The forecast came at the same time Bumble ( BMBL ) reported a second-quarter loss of 3 cents a share, on revenue of $220.5M, compared to a loss of 6 cents a share, on $186.2M in sales in the same period a year ago. Wall Street analysts had forecast Bumble ( BMBL ) to lose a penny a share, on $219.4M in revenue.
Bumble ( BMBL ) also said that revenue from its Bumble app grew by more than 33% from a year ago, to $169.6M. Badoo app and other revenue declined by 13.7%, to $50.8M.
The number of total paying users of Bumble's ( BMBL ) apps during the quarter edged up just slightly, to 3M users from 2.9M a year ago.
Bumble's ( BMBL ) results came a week after online-dating giant Match ( MTCH ) reported its own disappointing business outlook .
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Bumble shares stumble hard as outlook shows foreign currency, Ukraine war impacts