Bumble Beats Q1 Revenue Estimates Despite Recession Fears

Bumble Inc beat first-quarter income estimates on Thursday as person spending on its relationship app has remained sturdy regardless of a looming recession, sending its shares up 4.6% in aftermarket buying and selling.

The firm reported income of $242.9 million within the quarter ended March 31, in contrast with analysts’ estimates of $241.0 million, in accordance with Refinitiv information.

New options resembling “Compliments”, which allows users to engage by sending a note before they decide to connect, have helped the company cope with high inflation and rising interest rates.

Total paying users increased to 3.5 million in the reported quarter, from 3 million a year earlier, as users continued to seek love and companionship.

The Austin, Texas-based company forecast current-quarter revenue between $254 million and $258 million, the mid-point of which is $256 million, while analysts were expecting $256.63 million, according to Refinitiv data.

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