Vroom Reported an Earnings Beat and Bumble Smashed Earnings
Vroom is an online car retailer with a market cap of $4.832 billion. They entered the stock market through an IPO in June of 2020, and they have been swinging wildly since, with a 52-week high of $75.49.
Vroom announced their 2021 first quarter earnings after close on Thursday. They reported a narrower loss than expected, losing 52 cents per share. However, their sales rose by 57 percent to $591 million, and e-commerce sales jumped by 81 percent. Vroom also increased their guidance for future quarters, stating that demand for the business model is still existent.
Vroom rose to $39.03 after hours, up 10.22%.
Bumble is an online dating app, similar to Tinder. They are one of the large companies located in Austin, Texas, a city that is slowly turning into a business hub. They entered the market through an IPO in February of 2021, becoming a popular stock in the market.
Bumble reported earnings after hours on Wednesday, and things were amazing. Analysts expected a loss of 3 cents per share, and Bumble reported a profit of $1.69 per share, blowing past the expectation. They also beat on revenue with $170.7 million reported, and total users sat at 42 million, which is crazy.
Bumble saw a 6% jump after hours, but they are currently sitting at the same price as the close on Wednesday.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.