Bumble, a dating service, saw its stock tumble harder than Joe Biden down the stairs of Air Force One on Thursday, just after the release of the company’s earnings report for the second quarter of 2024. The first bit of news that likely jump started a wicked case of bubble guts for the investors of Bumble was the revenue it brought in this quarter, which was $268.62 million. This is a fair bit less than the original revenue estimate of $272.94 million Bumble was projected to rake in this quarter. And that’s despite it going up a total of 3.4 percent from $259.7 million in the second quarter of 2023.
InvestorPlace reported that all of this is grabbing Bumble stock by the ankles and yanking it off the ladder of success with investors smacking their chins on every rung the whole way down. The price is now 25 cents per share, which is actually better than the Wall Street prediction of 23 cents that was originally forecast.
Lidiane Jones, the CEO of Bumble released a statement concerning the earnings report saying:
“We are pleased with these early wins but it’s evident that to reignite the user growth engine for Bumble Inc. in the long term, we need to take a firm stance towards delivering customer value that goes beyond this launch. We are confident that the steps we are taking to strengthen our ecosystem, customer experience, and revenue strategy will revitalize our growth by making Bumble the best place for people to find successful and healthy connections in their lives.”
Here’s more from the report:
Bumble’s guidance in its latest earnings report includes a Q3 revenue outlook of $269 million to $275 million. This would miss Wall Street’s estimate of $296.13 million. Bumble also provides a 2024 revenue guidance of growth between 1% to 2% year-over-year. Legendary investor Eric Fry has been right about a lot of stock picks. 41 recommendations that increased over 1,000%. Another 20 that went up more than 500%. BMBL stock is down 33.4% as of Thursday morning alongside its mixed earnings report.
What amazes me is that people are still using dating services, what with all of the absolute lunatics that have been running wild all over creation. Think about it. How do you even know the person you’re supposed to meet is a real man or woman. It could be a man in a dress with an adam’s apple sharp enough to cut glass with. Or a woman wearing plaid and sporting a beard like an Oregon lumberjack but lacking the proper equipment to produce offspring and build a family.
I don’t think I want to take a chance on that sort of thing. Do you?
I wonder if that might be a reason for the drop in the stock? Maybe too many users have gone to hookup with who they thought was their soul mate only to get a not-so-pleasant surprise in the bedroom.
But I digress.