Bumble Inc.
BMBL,
said Wednesday its profit narrowed in the first quarter after an income tax benefit from a year earlier wasn’t repeated.
The Austin, Texas-based dating app operator reported net earnings of $23.9 million, compared with $323.4 million in the first quarter of 2021, and net earnings attributable to Bumble shareholders of $16.4 million from $341.8 million a year earlier.
Earnings per share reached 13 cents from $1.69 in the first quarter of 2021. Bumble reported revenue of $211.2 million in the quarter, up from $170.7 million
The revenue figure exceeded the company’s guidance from its fourth-quarter earnings report of a range from $207 million to $210 million. Bumble maintained its guidance for full-year revenue in a range from $934 million to 944 million. For the second quarter, the company forecast revenue in a range from $218 million to $221 million.
Bumble reported an income tax provision of $2.4 million in the first quarter of 2022, after reporting an income tax benefit of $436.6 million a year earlier.
Bumble shares rose more than 10% in after-hours trading Wednesday.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
This post was originally published on Market Watch
