Bumble beats quarterly revenue estimates as paid users rise

The Bumble Inc. (BMBL) app is shown on an Apple iPhone in this photo illustration as the operator of the dating app made its first IPO on the Nasdaq stock exchange on February 11, 2021. REUTERS / Mike Blake / Illustration / File Photo

Aug.11 (Reuters) – Bumble Inc (BMBL.O) topped quarterly revenue estimates on Wednesday as the online dating platform marked an increase in paid subscribers during the pandemic, pushing its shares up 3% in prolonged exchanges.

The demand for dating apps has increased in the era of the pandemic as people have turned to virtual dating to reinvent romance. The search for platonic relationships is also on the rise, leading companies like Match Group (MTCH.O) Tinder and Bumble to double down on services that help users find and keep friends. Read more

Data from research firm Apptopia showed that Bumble was downloaded about 2.05 million times in the United States during the second quarter, an increase of almost 18% year-over-year.

The Texas-based company reported second-quarter revenue of $ 186.2 million, compared to analysts’ estimates of $ 178.7 million, according to data from Refinitiv IBES.

Report by Tiyashi Datta in Bangalore; Editing by Devika Syamnath

Our Standards: Thomson Reuters Trust Principles.

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