Bumble shares fall 30% after its annual revenue forecast cut sparks growth fears

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Bumble shares fall 30% after its annual revenue forecast cut sparks growth fears - Channel News Asia

Quick Summary:

:Bumble slashed its annual revenue growth forecast on Wednesday, stoking worries about the dating app operator's growth plans among investors, sending its shares down 30 per cent after the bell.

"While our efforts may turn away some lower engagement users in the near term, we believe this will ultimately result in a more authentic and better experience for our users over time," CEO Lidiane Jones said in an earnings call.

"Macroeconomic conditions and the online dating market have become generally less favorable as younger consumers' tastes and willingness to pay continue to change," said M Science research analyst Chandler Willison.