07:17 AM EDT, 08/08/2024 (MT Newswires) -- Bumble's (BMBL) shares tumbled nearly 40% in recent premarket activity on Thursday, after the dating app operator slashed its 2024 revenue growth outlook.

After the markets closed on Wednesday, Bumble said it now expects revenue growth of 1% to 2% for the current year, cutting its previous guidance of 8% to 11%.

The company also said it projects Q3 revenue of $269 million to $275 million. Analysts surveyed by Capital IQ are looking for $286.8 million.

Bumble reported Q2 earnings of $0.22 per diluted share, up from $0.05 a year earlier. Analysts polled by Capital IQ expected $0.14.

Revenue for the quarter ended June 30 was $268.6 million, up from $259.7 million a year earlier. Analysts surveyed by Capital IQ expected $272.9 million.

Price: 4.89, Change: -3.17, Percent Change: -39.34