Bumble Beats Q3 Revenue Expectations

(Reuters) – Dating app operator Bumble (NASDAQ:BMBL) exceeded expectations for third-quarter revenue on Wednesday, leading to a 9% increase in its shares during extended trading.

Key Factors for Growth

Bumble has seen growth in paid subscriptions, enhanced by promoting features like text and image-based opening moves that enable users to engage through images and questions, as well as interest badges displayed on profiles, which increase user engagement and attract a younger audience.

User Growth

The total number of paying users across Bumble's apps rose to 4.3 million in the third quarter ending September 30, up from 3.8 million the previous year.

Financial Performance

Revenue for the third quarter reached $273.6 million, surpassing analysts' average estimate of $271.9 million, based on data compiled by LSEG.