Bumble beats Q4 profit estimates, sees its bull raging in 2022

Bumble Inc trumped fourth-quarter profit estimates on Tuesday and said it expected strong growth at its Bumble app in 2022.

Bumble, like many firms, discontinued operations in Russia following its invasion of Ukraine.

Bumble is also removing all of its apps from the Apple App Store and Google Play Store in Russia and Belarus.

Bumble said combined revenue from Russia, Ukraine, and Belarus was about 2.8% of total annual revenue in 2021. It expects to lose about $20 million in revenue from the region this year.

For 2022, Bumble forecast full-year 2022 revenue between $934 million and $944 million, the mid-point of which is nearly in line with analysts’ estimates.

The company is also increasingly focusing on its expansion in the international market.

Excluding items, Bumble earned 13 cents per share for the quarter ended Dec. 31. Analysts on average had expected the company to break even on a per share basis.


Leave a Reply

Your email address will not be published.