Connect with us

Hi, what are you looking for?


Match Group is down 20% after announcing second-quarter financials

Match Group (NASDAQ: MTCH) stock dropped 20% after recording a second-quarter EPS of 11c, which is 68c less than the 57c analyst estimate. Total revenue in the same quarter came to $794.5 million, which is also less than the $804.33 million consensus estimate.

Financial highlights 

Even the total revenue in the second quarter increased by 12% compared to the same quarter of the previous fiscal year. Its $10 million operating loss was driven by an impairment of intangibles of $217 million linked to the Hyperconnect deal.

The company recorded a $286 million adjusted operating income, representing a 9% increase compared to what the reported in the same quarter of the previous fiscal year. Payers increased from 15 million up to 16.4 million, representing a 10% increase.

Direct revenue from Tinder also increased by about 13% in the second quarter compared to what it reported in the same quarter of the last financial year. This rise was driven by the 14% growth of Payers.

All the other brands under the Match Group umbrella recorded collective direct revenue growth of about 12% year-over-year. This was driven by a 2% Payers growth and a 5% RPP increase to 5,5 million.

Free cash flow and operating cash flow were negative $7 million and $20 million respectively. These numbers were driven by the payment linked to the Tinder litigation settlement, which was around $441 million.

Management statements 

The company’s Chief Executive Officer, Bernard Kim, and its Chief Operating Officer, Gary Swidler, wrote a letter to their shareholders saying:

We’ve spent the past two months visiting our offices in LA, New York, Vancouver, Dallas, Seoul and Paris to connect in person with teams across the organization. Our goal was to meet with as many employees as possible and hear directly from them about how recent business trends and our brands’ strategic plans position.

They continued:

“While there is work to be done, we’re confident that the future is bright for Match Group. It is clear that we have an experienced global team and a fantastic business, and we’re excited about our growth opportunities ahead.

The post Match Group is down 20% after announcing second-quarter financials appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023