Stock Groups

Match Group Shares Climb After Earnings, Despite Initial Fall, Missed Numbers -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Match Group (NASDAQ 🙂 has increased 5.6% during the regular session after initially dropping in the wake of Tuesday’s posted evening.

This company owns Tinder, Hinge and OKCupid dating sites. It missed earnings and revenue expectations. EPS came in at $0.58, which was below the consensus of $0.58, and revenue was reported as $806.07million, lower than the $819.92 consensus.

The revenue grew by 24% over the previous year with Tinder seeing 23% growth and the other brands in the group seeing an increase of 26% each year.

Match blamed the earnings loss on continuing Covid effects, particularly in Asian markets such Japan. Omicron’s emergence in several markets in December caused mobility to be reduced, according to the company. Market optimism may have led to the turnaround of shares, with Match shares at 35% below its October 2021 52 week high.

It also showed a lower revenue outlook than the consensus. According to the company, Q1 revenue is expected to be between $790m and $800m. The consensus figure for $835.75M. In 2022, revenue growth is expected to be 15%-20% year-overyear. This includes high-teens growth in Tinder and Hinge’s “continued rapid expansion.”

 

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