Bumble Inc (NASDAQ:BMBL) shares are trading higher by 22.0% at $20.32 after the company reported fourth-quarter results, which showed a 29% increase in Bumble App paying users. Bumble App revenue increased 42.2% year over year.
Bumble reported quarterly losses of 8 cents per share. The company also reported quarterly sales of $208.20 million which missed the analyst consensus estimate of $210.29 million by 1%. This sales figure represents a 26% increase over sales of $165.60 million in the same period last year.
Bumble says, relative to fourth-quarter 2020, total paying users increased 10.6% to 3.0 million, compared to 2.7 million. Total average revenue per paying user (ARPPU) was $22.83, compared to $20.02.
"We are pleased to deliver another quarter of strong revenue and adjusted EBITDA growth and are excited to add Fruitz to our family of global, market-leading apps," said Whitney Wolfe Herd, Founder and CEO of Bumble.
"In our first year as a public company, and with our mission at the forefront of everything we do, we successfully executed on our core strategic priorities: driving scale and engagement, increasing monetization, and improving profitability," Wolfe Herd stated.
Bumble is engaged in offering online dating services. The company operates two apps, Bumble and Badoo, where users come on a monthly basis to discover new people and connect with each other.
Bumble has a 52-week high of $76.49 and a 52-week low of $15.41.
