Bumble Inc (NASDAQ:BMBL) shares are surging in Tuesday's after-hours session after the online dating company reported fourth-quarter results, which showed a 29% increase in Bumble App paying users. Bumble App revenue increased 42.2% year-over-year.
Bumble said fourth-quarter revenue increased 25.7% year-over-year to $208.2 million, which came in below the $210.29 million estimate. The company reported a quarterly earnings loss of 8 cents per share, which was down from a loss of 1 cent per share year-over-year.
Total paying users jumped 10.6% year-over-year to 3 million.
In addition, Bumble also announced that it is discontinuing operations in Russia.
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BMBL 52-Week Range: $15.92 - $76.49
Bumble shares were up 18.9% at $19.80 in after hours Tuesday.
