Match Group (NASDAQ:MTCH) released its fourth-quarter earnings, which surpassed Wall Street expectations.

The company, which owns Tinder, reported a notable earnings per share (EPS) of $0.81 for the quarter, significantly higher than the expected $0.50. Match Group’s revenue was $866.2 million, above the analyst forecast of $861.33 million.

However, Match Group observed a 5% decline in its number of paying users during the fourth quarter, with the figure falling to 15.2 million compared to the previous year.

For the upcoming first quarter, the company forecasts its revenues to be in the range of $850 million to $860 million. This estimate is lower than the average analyst expectation of $867 million. Looking further ahead into 2024, Match Group projects its revenue to be between $3.57 billion and $3.67 billion, indicating a growth rate of 6% to 8%.

Additionally, the online dating service company announced the approval of a $1 billion stock buyback plan.

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