Tinder-parent Match forecasts quarterly revenue below estimates on weak demand
Adds third quarter details in paragraphs 2, 8 and 10, updates shares in paragraph 1
Nov 6 (Reuters) -Match Group MTCH.O forecast fourth-quarter revenue below Wall Street estimates on Wednesday, a sign ofweak demand for its dating apps as customers cut back on discretionary spending, sending its shares down about 11% in extended trading.
The Dallas, Texas-based company also missed third quarter revenue estimates unlike its smaller rival Bumble BMBL.O, which reported upbeat quarterly revenue on the back of efforts including the launch of refreshed Bumble app.
Growth has slowed at Match from the peaks hit during the pandemic, as economic uncertainty and a lack of new features prompt people to cut back on spending on its dating apps.
Match Group offers dating app services including Tinder, Hinge, OkCupid and Plenty of Fish.
The company expect revenue between $865 million and $875 million for the fourth quarter, compared with analysts' average estimate of $905.4 million, according to data compiled by LSEG.
Total paying users declined 3% to 15.2 million in the third quarter, the company said, marking an eighth straight quarter of decline.
Match said it expect a mid-single digit decline in paying users for Tinder - its most popular app - in the fourth quarter from a year ago.
Tinder remains the largest among the dating apps cohort so far this year with 36% of total monthly active users in the United States, followed by Hinge and Bumble with 22% each, according to market intelligence firm Sensor Tower.
Third-quarter revenue of Match grew2% to $895 million, missing estimates of $900.9 million.
The company reported a third-quarter profit per share of 51 cents, compared with estimates of 48 cents.
Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber and Maju Samuel
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Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
