BUZZ-Bumble dips as Q4 revenue forecast misses estimates

Reuters11-06
BUZZ-Bumble dips as Q4 revenue forecast misses estimates

** Shares of dating app operator Bumble BMBL.O fall 12.36% to $4.75 premarket after co forecasts Q4 revenue below Street estimates, citing ongoing turnaround efforts and weaker growth in paying users

** Shares are expected to open at their lowest since early May if declines hold

** Co expects Q4 revenue between $216 mln and $224 mln vs. est. of $233.3 mln - data compiled by LSEG

** Dating platforms overall face an industry slowdown as users shift to other matchmaking alternatives

** Stock is down 33.42% YTD, Grindr GRND.N down 26% YTD, while Match Group MTCH.O has managed marginal gains this year

** Two out of 18 analysts rate BMBL "buy", 15 rate it "hold", two "sell"; median PT at $6.45 - data compiled by LSEG

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))

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