Key Takeaways
- Match Group shares slipped Thursday morning as revenue projections for the fourth quarter fell short of estimates.
- The owner of Tinder, Hinge, and other dating services beat profit estimates for the third quarter.
- However, the company said revenue from Tinder was below expectations and said some new features negatively impacted subscription revenue.
Shares of online dating giant Match Group (MTCH) tumbled Thursday morning despite a third-quarter earnings beat released after the bell Wednesday.
The company, which operates a number of online dating services like its namesake Match, Hinge and OkCupid, posted $895.48 million in revenue for the quarter, up slightly year-over-year but less than the $901.15 million analysts had expected.
澳洲幸运5官方开奖结果体彩网:Net income, however, came in abo♔ve estimates compiled by Visible Alpha at $136.48 million, but that wasꦚ down about 17% from the same time last year.
The largest miss, however, was in the 澳洲幸运5官方开奖结果体彩网:company's projections for fourth quarter revenue, which analysts expected to come in around $904.24 million, while Match Group ꦏsaid it expects revenue between $865 million to $875 million.
Revenue and downloads of Hinge continued to grow, but Match said Tinder Direct revenue came in below its own expectations, as the app's 澳洲幸运5官方开奖结果体彩网:monthly active users (MAUs) declined 9% from the same time last year and its revenue per payer (RPP) grew less than expected. Some new features tested with Tinder users in the quarter negatively i🌃mpacted subscription revenue, which the company said will likely also have an impact on f💖ourth quarter revenue.
Match Group was dow🌜n about 17% in early morni꧒ng trading.