Grindr surges on FY revenue forecast raise as subscribers increase

Grindr

14/11/2023 16:18

** Shares of LGBTQ-focused dating platform Grindr  GRND.N 
up 10.4% at $6.60
    ** Stock hits highest since March 2023
    ** We now expect 2023 revenue growth of 31% or more compared
to prior target of at least 28% 
    ** Average Paying Users increased 18% year-over-year to
962,000 in Q3
    ** This comes as Bumble  BMBL.O  and Tinder-parent Match
Group  MTCH.O  forecast Q4 revenue below estimates 
    ** GRND up 41% this year versus BMBL slumping 32% and 27%
slide in MTCH

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))