Bumble beats quarterly revenue estimates on app demand.

The online dating industry had seen a surge in popularity fueled by pandemic-induced restrictions, with people turning to the digital route to continue socializing, with growth continuing its upward trajectory even after lockdown constraints were lifted.

Data from research firm Apptopia showed Bumble downloads grew nearly 35% year-on-year in the second quarter in the US, while monthly active users jumped more than 24%.

While Bumble enjoyed a resurgence in popularity – with paying users increasing 31% to 1.9 million in the quarter – its other dating app, Badoo, which is mostly used in Western Europe by the dating segment the urban middle class, remains under the pressure of current economic uncertainties.

Bumble reported $50.8 million in revenue from Badoo and other apps in the quarter ended June 30, down 13.7% from a year earlier. In contrast, revenue from the Bumble app jumped 33.2% to $169.6 million over the same period.

The company said its revenue rose 18.4% to $220.5 million in the second quarter, compared to the average analyst estimate of $219.4 million, according to Refinitiv data.

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