Bumble Schedules First Quarter Earnings Report For 12th May

Written by Dominic Whitlock

Bumble has announced the publishing date for its first quarter earnings report and accompanying conference call.

The report will be publicly released following the close of the Nasdaq market on Wednesday, 12th May. It will contain all of the financial data from the three months ending 31st March, the company’s first that includes its time as a publicly traded entity.

A public conference call will take place on the same day at 4:30pm ET to discuss the results, answer questions from investors and outline plans for the upcoming quarter.

Bumble received a lot of attention from investors when it was floated just before Valentine’s Day. Shares peaked at $78.89 in the first few days of trading, more than double the originally planned IPO price.

However, since then the valuation has dropped by almost 30% as the hype dies down. This was largely led by its first earnings report in March, which, despite beating analysts’ estimates in several key categories, was largely underwhelming.

One of the main concerns is Badoo’s decline in revenue per subscriber and an uncertainty about user behaviour in the post-pandemic world.

Yesterday, Bumble shares closed at $55.87, giving the company a market cap of just below $6.5 billion.

Whitney Wolfe Herd was named by Forbes as one of the richest people in the world earlier this month. Her net worth was valued at approximately $1.3 billion, which meant she was included on the ‘Billionaire’s List’ for the first time, in 2,263rd position.

Visit the Bumble website here.

Leave a Reply

Your email address will not be published. Required fields are marked *