Bumble cut its full-year revenue forecast on Wednesday, taking a hit from the war in Ukraine while also grappling with stiff competition from rivals such as Match Group in the online dating market.
While Bumble has experienced a surge in popularity, its other dating app, Badoo, which is mostly used in Western Europe by the urban middle class segment, remains under pressure from ongoing economic uncertainties. The impact from the war is expected to dent full-year revenue by US$20 million, primarily in Badoo and other apps, at a time when Bumble is already playing catch-up with Tinder owner Match in the European market.
Bumble now expects revenue between US$920 million and US$930 million for 2022, lower than its prior estimate of US$934 million to $US944 million. Analysts on average are expecting US$934.1 million, according to Refinitiv data.
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