Bumble beats estimates for third-quarter revenue
5:32 pm Wednesday, November 06th, 2024
(Reuters) -Dating app operator Bumble beat expectations for third-quarter revenue on Wednesday, helped by growth in paid subscriptions, sending its shares up 9% in extended trading.
Bumble has benefited from promoting features such as text and image-based opening moves, which allow users to respond to images and questions to start conversations, and the display of interest badges on profiles, which helps increase user engagement and attract younger users.
Total paying users across Bumble’s apps increased to 4.3 million in the third quarter ended Sept. 30, from 3.8 million a year earlier.
Revenue for the third quarter was $273.6 million, compared with analysts’ average estimate of $271.9 million, according to data compiled by LSEG.
(Reporting by Priyanka.G in Bengaluru; Editing by Mohammed Safi Shamsi)
