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.