BUZZ-Match Group falls after downbeat Q4 revenue forecast

Reuters11-07

** Tinder-parent Match Group's MTCH.O shares fall 12.6% to $33.11 premarket

** Smaller rival Bumble BMBL.O down 5.9% to $7.35

** MTCH projected Q4 revenue below Wall Street estimates on Wednesday, signaling turnaround of its dating apps including Tinder would take longer

** Company forecast Q4 revenue between $865 mln and $875 mln, vs est $905.4 mln - LSEG

** Company also missed Q3 revenue est

** Total paying users declined 3% to 15.2 mln, marking an eighth straight quarter of decline

** BMBL posted its first decline in quarterly sales since going public in 2021 and said it would take longer for its app revamp to payoff

** Avg rating of brokerages covering MTCH is "buy", median PT $45; BMBL is a "hold", with median PT $8

** As of last close, MTCH up 3.8% YTD, while BMBL down 47%

(Reporting by Sukriti Gupta in Bengaluru)

((Sukriti.Gupta@thomsonreuters.com))

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