Match Group Plummets 22% on Q2 Miss and Disappointing Guidance By Investing.com

Match Group Plummets 22% on Q2 Miss and Disappointing Guidance

Stock Markets Aug 02, 2022 07:52PM ET

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Match Group Plummets 22% on Q2 Miss and Disappointing Guidance

By Davit Kirakosyan

Match Group (NASDAQ:MTCH) shares plunged 22% after-hours Tuesday following the company’s reported Q2 results, with EPS of ($0.11) coming in significantly worse than the consensus estimate of $0.57.

Revenue grew 12% year-over-year (up 19% on an FX neutral basis) to $794.5 million, compared to the consensus estimate of $804.33 million, driven by a 10% increase in Payers (16.4 million) and a 3% increase in RPP (revenue per payer).

Europe revenue grew 6% year-over-year (up 19% on an FX neutral basis), and APAC and Other revenue grew 32% year-over-year (up 49% on an FX neutral basis).

Tinder grew Direct revenue by 13% year-over-year (up 20% on an FX neutral basis), driven by a 14% Payers growth, while RPP decreased by 1%.

The company expects Q3/22 revenue to be in the range of $790-800 million, compared to the consensus estimate of $885.2 million.

For Q4, the company sees limited improvement in year-over-year revenue growth rates compared to Q3.

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Comments (1)

Franc Fil Aug 03, 2022 3:15AM ET

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MTCH is going dowwwn

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