Bumble shares stumble as outlook shows foreign currency and Ukraine war impacts

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Bumblebee (NASDAQ: BMBL) shares fell 12% in after-hours trading on Wednesday, as the app-based dating services company expected third-quarter revenue to be hit by currency effects and the ongoing war in Ukraine.

Following the closing of trade, Bumble (BMBL) said it expects to report third-quarter sales of between $236 million and $240 million. Bumblebee (BMBL) said its forecast included an estimated $6 million impact related to the war in Ukraine, with most of it related to the company’s Badoo app and “other revenue.” The company also said it expects to see a $12 million unfavorable impact related to foreign currency movements.

Bumble (BMBL) also forecasts revenue of $184-187 million from its flagship app Bumble.

The forecast came at the same time Bumble (BMBL) reported a loss of 3 cents per share in the second quarter, on revenue of $220.5 million, compared to a loss of 6 cents per share, on sales of 186. .2 million over the same one-year period. from. Wall Street analysts had expected Bumble (BMBL) to lose a penny a share, on $219.4 million in revenue.

Bumble (BMBL) also said revenue from its Bumble app rose more than 33% from a year ago to $169.6 million. Badoo app and other revenue decreased 13.7% to $50.8 million.

The total number of paid users of Bumble’s apps (BMBL) during the quarter increased slightly, from 2.9 million a year ago to 3 million users.

The results for Bumble (BMBL) came a week after online dating giant Match (MTCH) announced its own disappointing business outlook.