(Reuters) -Bumble Inc exceeded quarterly revenue estimates on Wednesday, as more people turned to its online dating app while staying indoors during the COVID-19 pandemic, sending its shares 6% higher in extended trading.
The company’s total paying users surged 30% in the first quarter. It reported revenue of $170.7 million, compared with analysts’ estimates of $164.6 million, according to Refinitiv IBES data.
Devoid of face-to-face meetings during the health crisis, people have flocked to dating apps in the past few months for romantic relationships and social interactions.
Bumble recorded nearly 2 million downloads and about 5.6 million monthly active users during the first quarter in the United State alone, data from analytics firm Apptopia shows.
(Reporting by Nilanjana Basu and Tiyashi Datta in Bengaluru; Editing by Aditya Soni)
