Bumble reported net earnings of $323.4 million, or $1.69 a share vs. a loss of $55.8 million, or 2 cents a share in the year-ago quarter, stronger than the FactSet consensus estimate of a GAAP loss of 3 cents a share.
Revenue came in at $170.7 million, also ahead of the FactSet estimates of $164.6 million and up from $79.1 million a year ago.
"We were able to combine our safety, mission and women-first narratives throughout the quarter in a manner that drove notable growth in user engagement and retention globally," said CEO Whitney Wolfe Herd in a statement.
"Our brand and products are resonating worldwide, and we are inspired by the resilience of our customers who have demonstrated the power of human connection during the pandemic," Herd added.
Let's Talk Wood-Stocks
"If you own the turbocharged growth stocks, be prepared to take the pain or cut your losses at the next rally, Jim Cramer warned his Mad Money viewers on another awful day for the markets," wrote TheStreet's Scott Rutt in his Mad Money recap. "Why are the tech and growth stocks seemingly in free fall? In a word, bonds. When inflation heats up, so do bond yields, which makes the future earnings from stocks less attractive. This is even more true for growth stocks, which forego earnings to chase market share instead."
"For a list of the stocks hardest hit by this multiple contraction, look no further than Cramer's "Woodstocks," a list of stocks owned by Cathie Wood's ARK Invest. ARK (ARKK) - Get Report was all the rage in 2020, posting huge gains, but in 2021, shares of Tesla (TSLA) - Get Report, Teladoc (TDOC) - Get Report, Square (SQ) - Get Report, Roku (ROKU) - Get Report and Zoom Video (ZM) - Get Report are all racking up huge declines. But Cramer, like Wood, takes a long-term view on these names, which can't be kept down for long," he continued.
How's Wynn Looking?
"For his second "Executive Decision" segment, Cramer also spoke with Matt Maddox, CEO of Wynn Resorts (WYNN) - Get Report, and Bill Foley, founder of Austerlitz Acquisition Corp I, to learn more about the company's plan to spin off their online sport betting business into a separate entity," Rutt wrote. "Maddox said that online sport betting will become a $30 billion to $40 billion business in the next few years. Spinning off their operations as an independent company was the best way to attack this growing opportunity."
"Foley added the new company has the potential to become a dominant player in this business and with Wynn's backing and support, it's only getting started," he continued. "When asked about the traditional casino business, Maddox said there is a lot of excitement and a lot of customers coming back to their casinos in both Boston and Las Vegas and things are looking up in Macau."
Hear what Jim Cramer is only telling members of his Action Alerts PLUS investing club during Thursday's Action Alerts PLUS call LIVE at 11:30 a.m. ET.