Match Revenue Forecast Disappoints Amid Lingering Covid Effects
- Covid is still taking a toll especially in Asian markets
- Dating app company reported 16.2 million paying users
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Match Group Inc. gave a forecast for revenue in the current quarter that lagged behind analysts’ estimates, signaling that new restrictions prompted by the Covid-19 omicron variant have put a damper on people’s appetite for socializing. The shares tumbled 6% in extended trading.
The Dallas-based company, which owns dating apps such as Tinder, Hinge and OKCupid, said it expects first-quarter revenue of $790 to $800 million. That compares with the average analyst estimate of $832.9 million, according to data compiled by Bloomberg. Adjusted operating income will be $260 million to $265 million, according to a statement on Tuesday. Analysts projected $289.2 million.