Bumble Inc. (NASDAQ:BMBL) reported better-than-expected first-quarter financial results on Wednesday.
Bumble posted quarterly earnings of 19 cents per share, beating market estimates of 17 cents per share. The company’s quarterly sales came in at $267.77 million versus expectations of $265.47 million, according to data from Benzinga Pro.
“We delivered solid Q1 financial results while making great progress on our plans to unlock Bumble’s next phase of growth,” said Lidiane Jones, CEO of Bumble Inc. “We’re actively listening to our customers and building experiences that put joy back into the online dating experience. We relaunched Bumble App – the first chapter in Bumble’s evolution – to give women more choice in how they Make The First Move, showcasing a new pace of innovation and renewed commitment to our mission.”
Bumble said it sees second-quarter revenue of $269 million to $275 million versus estimates of $278.63 million.
Bumble shares fell 0.3% to close at $10.27 on Wednesday.
These analysts made changes to their price targets on Bumble following earnings announcement.
- Evercore ISI Group raised the price target on Bumble from $17 to $18. Evercore ISI Group analyst Shweta Khajuria maintained an Outperform rating.
- Goldman Sachs cut the price target on Bumble from $18 to $15. Goldman Sachs analyst Alexandra Steiger maintained a Buy rating.
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