Sparks Fly on Bumble's First Date With Wall Street
You never get a second chance to make a first impression, and it's fair to say that Bumble (NASDAQ: BMBL) nailed its first quarter as a public company. The online dating specialist behind two of the world's four highest-grossing apps reported better-than-expected financial results shortly after Wednesday's close.
Revenue rose 31% to hit $165.6 million in the fourth quarter, topping the $163.3 million that early analysts had been targeting. Its namesake app did all of the heavy lifting. Bumble -- second only to Match Group's (NASDAQ: MTCH) Tinder in terms of revenue generation -- experienced a 47% top-line surge. The app now produces 64% of the parent company's revenue. Badoo is the other major app here, but it -- along with other revenue-generating channels -- accounted for the balance of the top-line mix by growing just 11% for the quarter. It's a good overall look, but it's not the only reason that you should swipe right on one of last month's hottest debutantes.
Image source: Getty Images.
Source Fool.com
