Match Falls as Covid-19 Concerns Cloud Positive Forecast
- Total payers jump 15%; Tinder revenue gains 26% in quarter
- Spread of delta variant injects some uncertainty, CEO says
This article is for subscribers only.
Match Group Inc. gave an upbeat revenue forecast for the current period, but the shares fell on investor concerns the momentum generated by the company’s dating apps may be stalled by the spreading Covid-19 delta variant.
Third-quarter revenue will be $790 million to $805 million, the Dallas-based company said Tuesday in a statement. Analysts, on average, estimated $769.1 million, according to data compiled by Bloomberg. Match forecast adjusted earnings before interest, taxes, depreciation and amortization of $275 million to $280 million. Analysts projected about $285 million, according to data compiled by Bloomberg.