Last Update: May 05, 2023, 02:10 AM IST
Bumble Inc beat first-quarter revenue estimates on Thursday as user spending on its dating app remained strong despite a slump, sending its shares up 4.6% in aftermarket trading.
The company reported revenue of $242.9 million for the quarter ended March 31, compared with analysts’ estimates of $241.0 million, according to data from Refinitiv.
New features such as “compliments”, which allow users to engage by sending a note before deciding to connect, have helped the company cope with high inflation and rising interest rates.
Total paid users in the reported quarter grew to 3.5 million from 3 million a year ago, as users continued to seek love and companionship.
The Austin, Texas-based company forecast current-quarter revenue of between $254 million and $258 million, with a midpoint of $256 million, according to Refinitiv data, while analysts were expecting $256.63 million.
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