Eoneren/E+ via Getty Images Investment Thesis Match Group (NASDAQ:MTCH), the owner of the largest global portfolio of popular online dating services such as Tinder, Hinge, OkCUpid, etc., reported their Q2 FY24 earnings yesterday, which showed that users continue to flock to their Hinge dating app while eschewing Tinder. The Dallas, TX-headquartered company reported Q2 sales that marginally beat expectations, while earnings came in line with consensus estimates. Match Group has recently been the target of mu ...

Here is how Match Group performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Payers - Europe Payers Payers - Total : 14.84 million versus 14.81 million estimated by six analysts on average. : 6.74 million versus 6.71 million estimated by five analysts on average. Revenue- Total Direct Revenue Revenue- Direct Revenue- Tinder : 3.61 million versus the five-analyst average estimate of 3.55 million. : $848.13 million versus the six-analyst a ...

Match Group (MTCH) came out with quarterly earnings of $0.48 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. There are no easy answers to this key question, but one reliable measure that can help in ...

Exhibit 99.1 Letter to Shareholders Q2 2024 | July 30, 2024 Second Quarter 2024 Financial Highlights See reconciliations of GAAP to non-GAAP measures starting on page 22. On a trade date basis. 1 2 1 • Total Revenue grew 4% over the prior year quarter to $864 million. On a foreign exchange ("FX") neutral ("FXN") basis, Total Revenue was up 8% over the prior year quarter to $892 million. • Tinder Direct Revenue was up 1% (4% FXN), while collectively our other brands' Direct Revenue was up 8% over the prior y ...

DALLAS, July 30, 2024 /PRNewswire/ -- Match Group (NASDAQ: MTCH) posted its second quarter 2024 shareholder letter on the investor relations section of its website at https://ir.mtch.com. As announced previously, the Company will host a conference call tomorrow, Wednesday, July 31, 2024, at 8:30 a.m. Eastern Time (ET) to discuss the results. The live webcast and replay will be open to the public at https://ir.mtch.com. About Match Group SOURCE Match Group Match Group (NASDAQ: MTCH), through its portfolio co ...

The company's earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 22.38%. Growing initiatives in price optimizations and new weekly subscription packages are expected to have further bolstered Tinder's performance in the second quarter of 2024. However, sluggish growth in total payers due to pricing optimizations in the United States is expected to have been a headwind for the company. What Our Model Says Here are some companies worth considering, as our ...

The creation of social media has completely changed the way people live. People can text, call, and even Facetime friends and families from the other side of the world within a second. The power of social media apps is growing by the day. As a result, social media stocks are now some of the best stocks you can buy. Source: testing / Shutterstock.com However, experts are cautioning people on how dangerous it is to be so connected to social media. Specifically, a lot of new social media applications are targe ...

Match Group is by far the global leader in online dating apps with over 45 brands, the most notable of which are Tinder and Hinge. Tinder is the most downloaded dating app in the world. It accounted for over 55% of the company's revenue at approximately $1.9 billion in 2023, has nearly 10 million paying users and over 50% earnings before interest, taxes, depreciation, and amortization margins. Hinge accounted for $400 million of the company's revenue and has been growing at over 100% per year. This is a mar ...

Core Viewpoint - Match Group, the parent company of dating apps Tinder and Hinge, is facing pressure from activist investor Starboard Value to either overhaul its business model or consider going private due to concerns over a lack of innovation and declining growth [1][3][10]. Group 1: Activist Investor Campaign - Starboard Value has acquired a 6.6% stake in Match Group and is in discussions with the company to enhance profitability and reduce costs [9]. - The activist fund has suggested that Match Group should conduct stock buybacks to significantly accelerate free cash flow per share growth, arguing that repurchasing shares is the best use of cash at the current stock price [4]. - Starboard's letter highlighted that Match Group's share price has underperformed the market since its separation from IAC in July 2020, despite the company's strong market position [10][12]. Group 2: Company Performance and Competition - Match Group has experienced a nearly 70% decline in stock price over the past four years, contrasting with gains in the broader stock market [12]. - The company has faced increasing competition from rivals like Bumble, and its user base has shrunk as consumers reduce discretionary spending amid economic uncertainty [13]. - Jeffrey Smith from Starboard noted that Tinder's growth has been hindered by a lack of innovation, despite having nearly 10 million paid subscribers [1][19]. Group 3: Previous Activist Campaigns - Earlier this year, Match Group faced an activist campaign from Elliott Management, which also criticized the lack of product innovation affecting Tinder's growth [15][19]. - In response to Elliott's campaign, Match Group added new board members, including Instacart executive Laura Jones and Zillow co-founder Spencer Rascoff [16].

Starboard Value Managing Member Jeffrey Smith made a number of suggestions in the letter to executives, stressing that Starboard is optimistic about Match's future and believes that the company is undervalued by the market, while also identifying potential areas of improvement. Key Takeaways Shares of Match Group (MTCH) jumped in premarket trading Tuesday on the news that activist hedge fund Starboard Value has taken a significant stake in the online dating giant and is already pushing for changes. Starboar ...