The company, which owns dating apps and sites Tinder, Hinge, OKCupid and Match, missed expectations for earnings and revenue, with EPS coming in at -$0.60 against the $0.58 consensus and revenue reported as $806.07 million, below the $819.92 consensus.
Revenue grew 24% year on year, with Tinder’s revenue increasing 23%, an acceleration from the prior quarter, and other brands under the banner seeing a 26% year-over-year rise.
Match put the earnings miss down to continuing Covid impacts, primarily in Asian markets such as Japan. The company added that the emergence of Omicron reduced mobility in many markets starting in early December. The turnaround in shares might reflect market optimism that Match will get another ‘re-open’ boost, especially with shares 35% below their October 2021 52-week high.
The company’s revenue outlook also came in below consensus. It sees Q1 revenue between $790 million and $800 million, with the consensus being $835.75 million. Meanwhile, the 2022 revenue outlook is for 15% to 20% year-over-year growth with the expectation of high-teens growth at Tinder and “continued rapid growth” at Hinge.