Reported 2 months ago
Bumble Inc. faced a substantial drop in its shares, nearing a record decline, after the dating app slashed its annual revenue projections, indicating challenges in regaining growth post-brand overhaul. The company revised its 2024 revenue growth estimate from a previous forecast of up to 11% down to just 1%-2%, sparking investor concerns about its long-term strategy and effectiveness in attracting younger users with recent app changes. Bumble's latest earnings reports also fell short of analyst expectations, adding to the company's struggles in a competitive online dating market.
Source: YAHOO