Bumble Inc. reported its first sales decline since going public in 2021, with revenue falling by 0.7% to US$273.6 million.

This drop was caused by high inflation and borrowing costs, which reduced spending on premium subscriptions.

Despite this, the company saw an increase in paying users, reaching 4.3 million, up from 3.8 million last year.

Bumble’s revenue exceeded analysts’ expectations, but its shares initially rose nearly 9% in after-hours trading before stabilizing.

The company expects fourth-quarter revenue between US$256 million and US$262 million and forecasts total revenue for 2024 to be between US$1.06 billion and US$1.07 billion.

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