- Match Group said third-quarter revenue increased 1% year-over-year to $810 million, which beat average analyst estimates of $795.43 million. The company reported quarterly earnings of 44 cents per share, which beat average estimates of 41 cents per share.
- Paying users increased 2% year-over-year to 16.5 million. Match Group said it plans to focus on Tinder growth as it heads into 2023.
- Match Group expects fourth-quarter revenue to be between $780 million and $790 million versus average estimates of $810.35 million.
- Keybanc analyst Justin Patterson hosted meetings with Match’s CFO and COO Gary Swidler last Friday and came positive around the product roadmap, 2023 outlook, and expense controls.
- He continues to view Match as an improving execution story that should benefit from sustained growth at Hinge and a recovery in Tinder.
- He views 2023 guidance for 5-10% revenue growth and at least flat margins as reasonable.
- Patterson reiterated the Overweight rating on Match and raised the price target to $75 from $74 prior.
- Price Action: MTCH shares traded higher by 3.93% at $44.71 on the last check Monday.
- Photo by Solen Feyissa from Pixabay
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