DALLAS, Aug. 27, 2024 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today that Gary Swidler, President and CFO of Match Group, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference on Tuesday, September 10th at 12:30 p.m. Eastern Time (ET). A live webcast and replay of the fireside chat will be available at https://ir.mtch.com/news-and-events/events. About Match Group Match Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of digital ...

Latino students represent most of the nation's growth in college degree attainment, according to a recent Excelencia in Education report. Latinos accounted for the vast majority, 79%, of the 4% overall increase in degree attainment over the last five years. "The significant strides Latinos are making in college degree attainment are commendable, but it's crucial to recognize the challenges they continue to navigate," said Dr. Jake Beniflah, Executive Director of the Center for Multicultural Science. "This y ...

Financial Data and Key Metrics Changes - Match Group's total revenue for Q2 2024 was $864 million, up 4% year-over-year, while FX neutral total revenue was $892 million, up 8% year-over-year [14] - Revenue per payer grew 9%, while payers declined 5% year-over-year [14] - Operating income was $205 million in Q2, down 5% year-over-year for a margin of 24% [18] Business Line Data and Key Metrics Changes - Tinder's direct revenue was $480 million, up 1% year-over-year, with payers climbing 8% year-over-year to approximately 9.6 million [14] - Hinge's direct revenue grew nearly 50% year-over-year to $134 million, with payers up 24% year-over-year to nearly 1.5 million [16] - Azar's direct revenue declined 1% in the quarter but was up 14% year-over-year FX neutral [16] - Evergreen & Emerging brands' direct revenue was $161 million, a decline of 8% year-over-year [16] Market Data and Key Metrics Changes - Tinder's MAU was down 9% year-over-year in Q2, but has stabilized since March [17] - Hinge's MAU grew 21% year-over-year in Q2, with significant share gains in key markets [17] Company Strategy and Development Direction - The company is focusing on integrating AI into its products to enhance user experience and engagement [5][11] - Match Group plans to exit live streaming services, expecting a workforce reduction of approximately 6% globally, leading to annual cost savings of about $13 million [10][52] - The company aims to return to sustained revenue growth by investing in product experience and marketing, particularly for Tinder and Hinge [26][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stabilization of Tinder's user base and expects continued improvement in payer trends [30][40] - The company anticipates total revenue for Q3 2024 to be between $895 million and $905 million, reflecting a 2% to 3% year-over-year increase [20] - Management believes that the dating app market remains strong and expects to capture significant growth opportunities [12][26] Other Important Information - The company has been actively buying back shares, repurchasing 6.4 million shares for a total of $197 million in Q2 [19] - The exit from live streaming is expected to create a 50 basis point improvement in margins [52] Q&A Session Summary Question: What led to the stabilization of Tinder user growth? - Management indicated that the stabilization is due to a combination of product initiatives and strong marketing efforts [30] Question: Has Tinder returned to normal payer seasonality in Q3? - Management noted that Q3 typically sees sequential improvement in payers due to seasonal factors, and they expect to follow this pattern [32] Question: What practical improvements are being seen from changes made in Tinder? - Management highlighted that product velocity and marketing efforts are driving user engagement and positive outcomes [36] Question: What is the outlook for Tinder payers in Q3? - Management expressed confidence in achieving a sequential increase of approximately 250,000 payers in Q3 [40] Question: What is the rationale behind exiting the live streaming business? - Management explained that live streaming has lower margins and significant competition, making it less strategic for the company [52] Question: What factors are contributing to Hinge's strong performance? - Management attributed Hinge's success to continuous product improvements and effective marketing strategies [55]

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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 ...