MARKETWATCH - Bumble saw its stock plummet over 30% after reducing its 2024 revenue growth forecast to 1%–2%, a sharp drop from the previous 8%–11% estimate. Despite a recent app redesign that improved user engagement, CEO Lidiane Jones highlighted the need for long-term strategies to boost customer value. Bumble's Q2 earnings were $37.7M, beating expectations, but revenue rose only 3.4% to $268.6M, below forecasts. The average revenue per user fell to $21.37, and the company predicts lower-than-expected Q3 revenue. Bumble shares have declined about 45% this year, contrasting with the S&P 500's 9% gain.
by Claudia Assis
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