Love is in the air, and if it's not it's on your phone. Bumble's (NASDAQ: BMBL) namesake app is growing quickly as the world's second-highest-grossing online dating platform after Match Group's Tinder. Bumble delivered impressive second-quarter results shortly after Wednesday's market close, and if the market's smart it's going to make sure it sticks around for another date.
Online dating is a no-brainer theme for the pandemic recovery. We're running into some hiccups of the delta variant variety this summer, but inevitably things will be back to normal. Courtships in social settings will continue, but Bumble has actually fared pretty well through the darkest stretches of the COVID-19 crisis.
The 19% in revenue growth it mustered for all of last year was a little more than half of the 36% increase it posted in 2019, but a double-digit gain is pretty impressive in a year in which traditional date outlets were off the menu. Growth is back to resuming its 2019 pace, and investors can somehow still buy into Bumble for just a little more than February's IPO price of $43.
Source Fool.com