Match Group reports Q3 EPS 51c, consensus 48c

Reports Q3 revenue $895.48M, consensus $900.87M. The company said, “In Q3, Tinder Payer trends improved on a year-over-year basis (“Y/Y”), declining 4% Y/Y versus down 8% Y/Y in Q2, and on a sequential basis, with 311,000 sequential Payer additions. Tinder Direct Revenue was slightly below our expectations, driven by modestly lower RPP. Tinder monthly active users (“MAU”) remained down 9% Y/Y and we opted to delay a la carte initiatives for further iteration as they were impacting subscription revenue more than we had anticipated, which we expect will have some downstream impacts in Q4. We remain encouraged by Tinder’s progress on product initiatives to transform the brand. We expect to see tangible markers of improvement as Tinder’s new features roll out over the coming quarters.”