Movement Alert|Match Falls 8.95% in Pre-Market Trading, Q2 Revenue Misses Estimates and Q3 Guidance Disappoints

Market Focus08-05 16:04

On August 5, Match fell 8.95% in pre-market trading, trading at $37.4/share. The decline was triggered by the company's Q2 earnings report, which revealed revenue below expectations and soft forward guidance.

Match reported Q2 revenue of $853.1 million, missing the analyst consensus estimate of approximately $857 million and declining 1.2% year-over-year. While Q2 EPS of $0.70 beat the $0.65 estimate by 7.69%, the earnings beat failed to offset concerns over decelerating growth. For Q3, management guided revenue of $885 million to $895 million, with the midpoint falling short of the Street's $892.7 million expectation. Additionally, the company disclosed that Tinder's ongoing user experience testing and product adjustments are expected to negatively impact full-year direct revenue by $30 million to $40 million. The E&E (Evergreen & Emerging) business segment's direct revenue is projected to decline in the mid-to-high teens percentage range for the fiscal year, further weighing on sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment