By Sam Boughedda
Investing.com -- Shares of dating app company Bumble Inc (NASDAQ:BMBL) have jumped 9% in extended trading Wednesday after the company reported first-quarter earnings.
Bumble posted earnings of $0.13 per share on revenue of $211.2 million. Analysts polled by Investing.com expected earnings of -$0.04 on revenue of $208.34 million.
The company said revenue includes an unfavorable impact of $5.1 million from foreign currency movements year over year.
Revenue from the Bumble App grew 38% to $155.4 million, while revenue from its Badoo App and other income, including Fruitz, which was acquired in January, declined 4% to $55.8 million.
The company's revenue was driven by total paying users increasing to 3 million from 2.8 million in Q1 2021, with total average revenue per paying user rising to $22.76, compared to $19.99.
“We are off to an excellent start for fiscal year 2022, exceeding our outlook for revenue and adjusted EBITDA in the first quarter,” said Anu Subramanian, CFO of Bumble. “Total revenue grew 24% year over year in Q1, propelled by Bumble App, which saw growth in both paying users and average revenue per paying user."
The company expects second-quarter revenue in the range of $218 million to $221 million, which includes an impact from the conflict in Ukraine of $6 million, primarily in Badoo App and other revenue, and an unfavorable impact of $9 million from foreign currency movements.
Full-year 2022 revenue is expected to be between $934 million to $944 million, which includes an impact from the conflict in Ukraine of $20 million and an unfavorable impact of $28 million from foreign currency movements.