Bumble Inc.’s stock price was down as much as 39% on Thursday morning following the release of its Q2 earnings report on Wednesday. Even as the company, which is known for dating apps like Bumble and Badoo, focuses on a new strategy, analysts see a rocky road ahead and competition from dating apps like Hinge.
Bumble's stock, which trades under the BMBL tickle, cratered after the the company’s revenue for the quarter and guidance for Q3 came in below estimates. The company’s total revenue in Q2 was $269 million, up 3% from the same last year, but below Wall Street’s estimate of $273.2. The revenue for Bumble App—which bills itself as a safer and more empowering experience for women—increased 11.1% to $215.8 million. Badoo, a more general dating app, saw revenue decline 2% year over year.
