Bumble forecasts downbeat quarterly revenue as paying users drop

Aug 5 (Reuters) - Bumble ‌on ​Wednesday ​forecast third-quarter revenue below Wall Street estimates, as paying users declined ‌during an ongoing platform overhaul to ⁠win back swipe-weary Gen Z users.

The company is ‌reviving its service with ‌a rebuilt, AI-enabled "Bumble 2.0" platform, designed to feel less transactional and more ​curated than traditional swipe-based apps.

Here are some details:

• Bumble shares fell 5% ⁠in extended trading following the results.

• It forecast third-quarter revenue ​of $205 million to $213 million, below analysts' average estimate of $215.1 million, according ​to data compiled by ‌LSEG.

• Bumble, which operates the women-first Bumble app along with Bumble ⁠For Friends and Bumble Bizz, forecast third-quarter adjusted EBITDA of $56 million to $60 million.

• The ⁠company's second-quarter revenue fell 15.2% to $210.5 million from ​a year ago, in line with analysts' estimate of $210.4 million.

• Total paying users decreased 16.4% ‌to 3.2 million, while average revenue per paying user rose 1.2% ‌to $21.96.

• Peer Match Group also forecast ⁠third-quarter revenue below ‌Wall Street estimates ​on Tuesday.

(Reporting by Nithyashree R B in Bengaluru; Editing by Shreya ‌Biswas)

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