Bumble declines as higher expenses fan concerns about Tinder competition

The Bumble Inc. (BMBL) app is shown on an Apple iPhone in this photo illustration as the dating app operator made its debut IPO on the Nasdaq stock exchange February 11, 2021. REUTERS/Mike Blake/Illustration/File photo

(Reuters) - Bumble shares fell 4% on Tuesday after the dating app owner forecast lackluster third-quarter revenue and posted a jump in expenses, sparking fears that stiff competition with Tinder-owner Match was affecting its business.

The operator of Bumble, Badoo, and Fruitz apps said its total operating costs rose more than 7% in the June quarter as it spent more on product development and marketing.