Investors ghosted Bumble ( NASDAQ: BMBL ) on Thursday, and sent the dating app company's shares down almost 9% following a disappointing full-year revenue outlook.
Late Wednesday, Bumble ( BMBL ) said that for its 2022 fiscal year, it expects revenue to be between $920 million and $930 million, down from previous expectations of $934 million to $944 million. The company blamed the revenue shortfall largely on foreign currency exchange issues, but some analysts cited Bumble ( BMBL ) delaying the launch of new products as another factor in the reduced forecast.
John Blackledge, of Cowen, noted that Bumble ( BMBL ) lowered the revenue outlook for its flagship app, and that the company had planned to launch a college-specific dating app bundle in time for the school year to being, but that such an offering has been pushed back until later in the third-quarter of this year.
Bumble ( BMBL ) said on Wednesday that for its third quarter, it now expects to report revenue in a range of $236M to $240M That outlook includes an "unfavorable impact" of $12M related to foreign currency exchange movement, and $6M tied to the ongoing war in Ukraine.
Along with its outlook, Bumble also 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. Analysts had previously forecast Bumble ( BMBL ) to report sales of $219.4M for its second quarter.
Bumble ( BMBL ) results followed those of Match ( MTCH ), which last week saw its shares tumble after it gave a forecast that fell short of Wall Street's expectations .
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Bumble slumps as sales outlook drags dating app's shares south