Match Group Lowers Q1 Projections, Offers Buyback
- Monday, February 12 2024 @ 10:19 am
- Contributed by: kellyseal
- Views: 699
Match Group released its first quarter revenue forecast, falling below Wall Street analyst expectations as users continue to cut back on their dating app spending.
According to Reuters, the company also authorized a $1 billion share buyback plan.
The company, which owns Tinder, Hinge, OkCupid and Match among other dating apps, said paying users declined 5 percent in the fourth quarter of 2023 compared to the previous year, to 15.2 million. It expects revenue between $850 and $860 million for the first quarter, down from analysts’ forecasts of $867 million on average, according to Reuters.




