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Dow Jones Newswires: Bumble revenue beats, stock gains 10%

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Bumble Inc.
BMBL,
-8.32%

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

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