(Reuters) -Bumble beat Wall Street estimates for first-quarter revenue on Wednesday, a sign that its push for attracting payers at its dating apps is paying off.
Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo, and Fruitz, rose more than 4% in aftermarket trading.
Bumble has benefited from its aggressive marketing efforts, in a bid to tap younger users and women.
Last week, Bumble unveiled its anticipated app refresh, with a new logo, a move announced in February, that comes with new features including allowing women to set a question that their potential match could respond to.
In the first quarter, global Bumble downloads growth rose 18% from a year earlier, according to market intelligence firm Sensor Tower on Monday.
The company’s first-quarter revenue rose 10.2% to $267.8 million, beating analysts’ average estimate of $265.5 million, according to LSEG data.
Total paying users across Bumble’s apps increased to 4 million in the first-quarter ended March 31, from 3.5 million a year earlier.
Bumble expects second-quarter revenue between $269 million and $275 million, compared with analysts’ average estimate of $278.6 million, according to LSEG data.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
