Bumble, the popular online dating company, has provided a disappointing outlook for the current quarter. For the fourth quarter ending on December 31st, Bumble is forecasting a revenue range of $272 million to $278 million. This falls below the expectations of analysts, who had predicted revenue of $285.8 million, according to FactSet.
The guidance from Bumble takes into account a decrease of $6 million in benefits from foreign currency, compared to previous estimates. Additionally, the ongoing crisis in the Middle East is expected to have an unfavorable impact on the company. Bumble anticipates a potential loss of around $1 million due to the war between Israel and Hamas. This impact is slated to primarily affect Bumble’s app revenue.
In terms of Bumble app revenue, the estimated range is between $221 million and $225 million. This is lower than the $233.3 million projected by analysts polled by FactSet. Similar to the overall revenue forecast, Bumble attributes the lower app revenue estimate to a decrease of $4 million in benefits from foreign currency, compared to previous predictions.
Although Bumble’s outlook is not as strong as anticipated, the company remains committed to navigating these challenges and maintaining its position in the online dating industry.