Match Group pops 10% as dating company shows early signs of a turnaround
The Dallas-based company said it expected revenues between $910 million and $920 million in the current quarter, beating a $890 million estimate from analysts polled by FactSet.
"We are operating like a company that is just getting started, and we believe the best chapters of the category and company are still ahead," said CEO Spencer Rascoff during an earnings call Tuesday. "We are moving with urgency, we are obsessed with the product and we are building for the long term."
Over the last year, Match and the broader online dating industry have grappled with slowing user engagement. The company has added more tools and features to its apps, including Tinder and Hinge, to lure back customers, especially Gen Z.
Match has also been the target of activists investors such as Starboard Value, which has pushed the company to innovate, cut costs and improve profitability or consider going private.
In an effort to revamp its business, Match appointed Zillow co-founder Rascoff as its new CEO in February. Under his direction, the company has implemented new artificial intelligence-powered tools and slashed roles.
Match also added new features such as AI-powered discovery to many of its services and a double date feature on Tinder. Rascoff on Tuesday said that 90% or customers using this feature are under age 30.
The company will also target the younger market with features geared toward college students and is planning to reinvest $50 million into new product development, Rascoff said.
In 2026 and 2027, Rascoff said he expects AI innovation and international growth to expand its Hinge platform's leadership as Tinder becomes a "low-pressure, serendipitous experience designed for Gen Z." Hinge, he said, is also on track to deliver quarterly year-over-year growth in 2025.
"Across the board, we believe the category will enter a new era, with renewed trust, strong demand and long-term growth potential," he said.
Match posted in-line earnings of 49 cents per share. Revenues reached $864, topping the $854 million expected by analysts.
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