Tinder-owner Match Group on Tuesday forecast fourth-quarter revenue below estimates, as stubborn inflation and unrest in some markets weigh on growth at some of its major dating platforms, sending its shares down nearly 8%.
Oct 31 (Reuters) - Tinder-owner Match Group (MTCH.O) on Tuesday forecast fourth-quarter revenue below estimates, as stubborn inflation and unrest in some markets weigh on growth at some of its major dating platforms, sending its shares down nearly 8%.
That has, in turn, impacted its dating platforms, which include Hinge, OKCupid, and Plenty of Fish.
Tinder, its largest brand, grew revenue by 7% last year compared to its chief rival Bumble (BMBL.O), which expanded its top line at twice that rate.
To revive growth in its main apps and counter the threat from Bumble, Match has rolled out several new features, including weekly subscription plans and new engagement and privacy features across Tinder and Hinge.
Direct revenue at Tinder and Hinge, its top two dating platforms, grew 11% and 44% respectively.
Paying users across its apps fell 5% to 15.7 million, while revenue per payer’ rose 15% to $18.39.
The original article contains 327 words, the summary contains 149 words. Saved 54%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Oct 31 (Reuters) - Tinder-owner Match Group (MTCH.O) on Tuesday forecast fourth-quarter revenue below estimates, as stubborn inflation and unrest in some markets weigh on growth at some of its major dating platforms, sending its shares down nearly 8%.
That has, in turn, impacted its dating platforms, which include Hinge, OKCupid, and Plenty of Fish.
Tinder, its largest brand, grew revenue by 7% last year compared to its chief rival Bumble (BMBL.O), which expanded its top line at twice that rate.
To revive growth in its main apps and counter the threat from Bumble, Match has rolled out several new features, including weekly subscription plans and new engagement and privacy features across Tinder and Hinge.
Direct revenue at Tinder and Hinge, its top two dating platforms, grew 11% and 44% respectively.
Paying users across its apps fell 5% to 15.7 million, while revenue per payer’ rose 15% to $18.39.
The original article contains 327 words, the summary contains 149 words. Saved 54%. I’m a bot and I’m open source!
Good bot 🥰