Stock Track | Bumble Shares Soar on Solid Q3 Results and Strategic Initiatives

Stock Track11-07

Shares of Bumble Inc. (BMBL) surged 5.89% on November 7, 2024, as the dating app company reported better-than-expected Q3 earnings results and provided updates on its strategic transformation initiatives.

Bumble reported adjusted earnings per share of $2.33 for the third quarter, surpassing analyst estimates of $0.19. Although revenue slightly missed expectations at $273.6 million, the company exceeded its adjusted EBITDA guidance, driven by strong operational focus and disciplined cost management.

The company's solid financial performance was further bolstered by its robust share repurchase program. Bumble repurchased $90 million worth of shares in Q3 2024, bringing the total amount returned to shareholders since the inception of the buyback program to $361 million.

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