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Tinder owner forecasts revenue below estimates -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Tinder on the Apple iPhone is depicted in this illustration, taken February 10, 2016. REUTERS/Mike Blake/Illustration

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(Reuters) – Match Group Inc (NASDAQ: ) Forecast fourth-quarter revenues below market estimates on Tuesday. Tinder owners’ growth could slow due to people returning to pre-pandemic routines.

As people relied on online chat applications to connect during long periods of isolation, the industry of dating boomed in 2013. We are encouraged to meet face-to-face because of the increasing number and quality of vaccines.

Refinitiv found that Match reported fourth-quarter revenues between $810m and $820m, lower than analysts’ average estimate at $838.5 million.

A COVID-19 rebound in Asia meant that the business suffered from less people using Azar’s video and audio chat app. In this year’s acquisition of South Korean company Hyperconnect, the company purchased the app.

Match also has dating apps Hinge, OkCupid and reported that revenue increased 25% to $801.8 Million in the third quarter ending Sept. 30, compared with analysts’ estimate of $802.2 millions.

Company added 16.3 Million payers. This metric, which was recently created, includes all revenue contributors. Revenue per payer rose 8%.

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