Bumble forecasts third-quarter revenue below estimates; shares slump

:Bumble forecast third-quarter revenue below Wall Street estimates on Wednesday, signaling sluggish discretionary spending by users on its dating apps.
Shares of the Austin, Texas-based company, which offers dating apps such as Bumble, Badoo and Fruitz, fell more than 21 per cent in aftermarket trading.
Bumble, which operates its eponymous app, expects third-quarter revenue between $269 million to $275 million, compared with analysts’ average estimate of $296.1 million, according to LSEG data.