Match Notches Record Drop as Forecast Cut Stalls Turnaround
- Fourth-quarter sales outlook also missed analyst estimates
- Firm sees ‘tangible markers of improvement’ in coming quarters
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Match Group Inc. lowered its full-year revenue forecast, a disappointment to investors who were expecting a turnaround at the dating app company amid pressure from activists.
Revenue for 2024 is now expected to gain about 4% instead of 5%, Match President and Chief Financial Officer Gary Swidler said on an earnings call with analysts Thursday, citing a slowdown in the addition of new users on Tinder, its largest dating app.