Dating app company Match Group Inc (NASDAQ:MTCH) reported second-quarter financial results after market close Tuesday.
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Here are the key highlights
What Happens: Match Group reported second-quarter revenue of $864 million, flat year-over-year. The revenue total beat a Street consensus estimate of $853.76 million according to data from Benzinga Pro.
The company reported earnings per share of 49 cents, which was in-line with Street estimates.
Match's Payers were down 5% year-over-year to 14.1 million, but the company recognized a higher revenue per payer of $20.00.
The company said Hinge saw monthly active users up around 20% year-over-year with user growth of 60% year-over-year in European Expansion markets. Hinge's new AI algorithm is helping increase matches and contact exchanges.
"Six months ago, we took a hard look at how we work, what we build, and what users want from our apps," Match Group CEO Spencer Rascoff said. "We moved fast to reset the company culturally, organizationally, and strategically."
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What's Next: Rascoff said there has been "meaningful product progress at Tinder" along with momentum at Hinge, which are helping the company position for long-term success.
"As we look ahead to our resurgence phase in 2026 and 2027, we are focused on delivering app experiences that feel modern, human and built for today's users," Rascoff said. "We are also working to spark a resurgence of trust, relevance, and confidence among both our users and investors."
The company plans on reinvesting savings of $50 million in the second half into strategic initiatives across the company's portfolio. This includes product testing at Tinder and geographic expansion for some other apps like Hinge. Match also said a new dating concept would get some of the investment.
The company is guiding for third quarter revenue of $910 million to $920 million, up 2% to 3% year-over-year. The revenue guidance is higher than a Street estimate of $889.21 million, according to data from Benzinga Pro.
MTCH Price Action: Match stock is up 4.50% to $35.25 in after-hours trading Tuesday versus a 52-week trading range of $26.39 to $38.77.
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