Bumble Posts 3Q Loss, Records $892.2M Impairment Charge

Dow Jones

Nov 07, 2024

By Kailyn Rhone

Bumble posted a loss and lower sales in the third quarter due to an impairment charge and the affects from foreign currency movements.

The Austin, Texas online dating company posted a third-quarter loss of $613.2 million, or $5.11 a share, compared with a profit of $16.7 million, or 12 cents a share, a year earlier. Analysts polled by FactSet expected 20 cents a share.

The company incurred an impairment charge of $892.2 million during the quarter.

Bumble's third quarter revenue fell almost 1% to $273.6 million, driven by a $1.3 million unfavorable impact from foreign currency movements year over year. Analysts polled by FactSet expected $272 million.

Total paying users rose to 4.3 million from 3.8 million from the same quarter a year ago, while average revenue per paying user dropped to $21.17 compared with $23.42 during the same period a year earlier. Bumble app paying users grew 10% to 2.9 million.

For the fourth quarter, the company expects revenue of $256 million to $262 million, and full-year revenue of $1.06 million to $1.07 million.

Write to Kailyn Rhone at kailyn.rhone@wsj.com

(END) Dow Jones Newswires

November 06, 2024 18:34 ET (23:34 GMT)

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