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Bumble forecasts third-quarter revenue below estimates; shares slump
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Bumble forecasts third-quarter revenue below estimates; shares slump
Aug 7, 2024 1:25 PM

(Reuters) -Bumble forecast third-quarter revenue below Wall Street estimates on Wednesday, signaling sluggish discretionary spending by users on its dating apps.

Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo and Fruitz, fell more than 21% in aftermarket trading.

Bumble, which operates its eponymous app, expects third-quarter revenue between $269 million to $275 million, compared with analysts' average estimate of $296.1 million, according to LSEG data.

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