GURUFOCUS - Bumble stock dipped 19% following the release of Q3 earnings which disappointed investors because of lackluster paid subscriber additions. The company is likely to come under more pressure in the coming months. Badoo saw its revenue decline 3% to $58M in Q3, while its number of paid users dipped 9% YOY to 1.33M. The average revenue per paid user rose by 6%. Revenue from the Bumble app came to $142M for the quarter, up 39% YOY. The total number of paid users and the average revenue per user increased by 5% and 19%, respectively. Although these numbers look promising, it is worth noting that the company reported a decline in paid users from the second to third quarters, which suggests the strong momentum behind the company’s online dating products is waning.
by Dilantha De Silva
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