tiprankstipranks
Match Group Reports Modest Revenue Growth in Q3 2024
Company Announcements

Match Group Reports Modest Revenue Growth in Q3 2024

Match Group, Inc. ( (MTCH) ) has released its Q3 earnings. Here is a breakdown of the information Match Group, Inc. presented to its investors.

Don't Miss Our Christmas Offers:

Match Group, Inc. is a leading provider of digital technologies designed to help people make meaningful connections through its global portfolio of popular dating brands, including Tinder and Hinge, in the online dating industry. In its third-quarter earnings report for 2024, Match Group reported a slight revenue increase of 2% from the previous year, reaching $895 million, with an adjusted operating income growth of 3% to $343 million. Despite a decline in payers by 3% to 15.2 million, the company saw an increase in revenue per payer by 5% to $19.26. Significant strategic moves included exiting some live streaming services, impacting operating income, which decreased by 14%. Tinder’s direct revenue saw a slight decline, attributed to delayed initiatives, while Hinge experienced a substantial growth in direct revenue by 36%. Looking ahead, Match Group remains optimistic about its strategic product innovations and consolidation efforts, aiming to improve financial performance and user experience across its brands.

Related Articles
TheFlyElectronic Arts, Rivian downgraded: Wall Street’s top analyst calls
TheFlyMatch Group downgraded to Neutral from Overweight at JPMorgan
TheFlyPfizer provides FY25 outlook, McCormick in talks for Sauer Brands: Morning Buzz
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App