Bumble's Shares Tumble After Revenue Outlook Slash

Subheadline: Online dating company sees record plunge after cutting guidance

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WEB Shares of Bumble (BMBL) fell to their all-time low on Thursday after the online dating service announced a reduction in its revenue guidance. Customers have been spending less, leading to the company's decision to adjust its outlook.

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According to Bloomberg, Bumble Inc.'s shares experienced a record decline on Thursday following the company's disclosure of a reduced revenue target. The dating platform's stock fell sharply due to a weakened revenue outlook, which significantly undercut Wall Street expectations.

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WEB The company's shares plummeted by as much as 32% in extended trading after the news was released. This decline is particularly noteworthy given that Bumble went public in 2021 and its shares reached a record low in February. The company's revenue growth has slowed in recent quarters.

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WEB Shares of Bumble (BMBL) are now trading over 35% lower after the company reduced its full-year revenue forecast. The company now projects revenue growth in the range of 1-2% for 2024, a significant downgrade from previous expectations.