Bumble Swings to Profit in Q1 as Reopening Drives Dating Activity By Investing.com

By Yasin Ebrahim

Bumble reported first-quarter results that topped analysts estimates as the dating app benefited from the economic reopening.  

  Bumble slipped 0.8% in after-hours trading.   Bumble reported Q1 earnings of $1.69 a share, compared with a 2 cents loss a year earlier. Revenue more than doubled to $170.7 million from $79.1 million. Wall Street was looking for a loss of $0.03 a share on revenue of $164.6 million.   Total Paying Users increased 30% to 2.8 million, with average revenue per paying user, or ARPPU, rising to $19.99 from $17.73. “Our first quarter results reflect significant growth in paying users as well as improved monetization, positioning us to raise full year 2021 guidance,” the company said.   The company sees second-quarter revenue fo $175 million to $1178 million, in line with consensus estimates fo $174.5 million.    For the full-year 2021, revenue was guided in the range of $724 million to $734 million, topping estimates for $723.88 million.