Bumble (BMBL, Financial), a popular U.S. dating platform, released its third-quarter financial results, showing a 1% decline in revenue to $273.6 million. This slightly exceeded analyst expectations of $272 million. However, the company reported a substantial net loss of $613.2 million, or $5.11 per share, compared to a profit of $16.7 million, or $0.12 per share, in the same period last year. Analysts had anticipated earnings of $0.20 per share. The loss was significantly impacted by an impairment charge of $892.2 million.
The total number of paying users increased from 3.8 million to 4.3 million year-over-year. However, average revenue per paying user declined from $23.42 to $21.17. Specifically, the Bumble app saw a 10% increase in paying users, reaching 2.9 million.
Looking ahead, the company projects fourth-quarter revenue to be between $256 million and $262 million, with full-year revenue expected to range from $1.066 billion to $1.072 billion.
