Latest news with #Tinder-parent
The Star
06-08-2025
- Business
- The Star
Match Group posts revenue above estimates as it looks to lure Gen Z with AI Push
FILE PHOTO: Match Group logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -Tinder-parent Match Group's second-quarter revenue surpassed Wall Street expectations on Tuesday, buoyed by strong performance at Hinge and a renewed strategic focus under new CEO Spencer Rascoff. Shares of the company rose 9% in extended trading. The company credited its revenue beat to the ongoing overhaul, which places greater emphasis on enhancing user experience, including the integration of an "AI-powered core discovery algorithm," to attract and retain users. Despite the topline growth, Match Group reported a 5% decline in paying users to 14.1 million, reflecting broader headwinds in the online dating sector. Industry peers, including Bumble, have also faced sluggish demand as persistent inflation and a perceived lack of innovation have prompted some consumers to step back from app-based dating. In response, Match and Bumble have been focusing on user experience over numbers by introducing artificial intelligence features such as AI-enabled discovery to make it easier for users to improve their dating outcomes. The company is seeking to revamp its brand image, with a stated goal to "transform Tinder into a low-pressure, serendipitous experience designed for Gen Z." Match, which also owns Hinge and OkCupid, has rolled out new features such as its AI-enabled interactive matching product to cater to the Gen Z audience. The company further said it plans to reinvest approximately $50 million in the second half of 2025 into strategic initiatives, including product testing at Tinder and geographic expansion for Hinge, Azar and The League. For the second quarter, the company posted revenue of $864 million, above analysts' expectations of $853.6 million, according to data compiled by LSEG. This excludes a one-time charge of $14 million. (Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)
CNBC
03-07-2025
- Business
- CNBC
Tripadvisor stock surges 10% as Starboard Value builds sizable stake in online travel company
Tripadvisor stock jumped 10% Thursday after Starboard Value revealed a more than 9% stake in the online travel company, according to a securities filing. The position was valued at about $160 million as of Wednesday's close. Tripadvisor shares have been flat since the start of the year after plummeting more than 30% in 2024. Last year, the travel review and booking company said it created a special committee to explore potential options. Starboard Value has gained a reputation for pushing for changes such as new CEOs and cost cuts by acquiring significant shares in companies. Most recently, the firm settled a proxy fight with Autodesk, where it gained two board seats. It has previously pushed for changes at Tinder-parent Match Group, pharmaceutical giant Pfizer and Salesforce. The Wall Street Journal was the first to report the news late Wednesday. Both Starboard Value and Tripadvisor did not immediately respond to CNBC's request for comment.
The Star
08-05-2025
- Business
- The Star
Bumble forecasts second-quarter revenue below estimate
FILE PHOTO: The display outside the Nasdaq MarketSite is pictured as the dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange during the company's IPO in New York City, New York, U.S., February 11, 2021. REUTERS/Mike Segar/ File Photo (Reuters) -Bumble forecast second-quarter revenue below analysts' estimate on Wednesday, signaling that the dating app operator's turnaround plan is taking longer than expected to yield results. The online dating industry has been grappling with declining user engagement stemming from market stagnation, sticky inflation and a lack of innovative features, prompting companies such as Bumble and its bigger rival Tinder-parent Match to refine their applications to pull subscribers. Paying users for Bumble app decreased 1% to 2.7 million during the first quarter. Bumble is in early stages of revamping its application — a venture that analysts have said may take time to effectively monetize. Earlier this year, the company had said these initiatives were aimed at strengthening the dating app operator's market position and delivering quality features such as integrating artificial intelligence to its platform to enhance users' security. The company expects second-quarter revenue to be between $235 million and $243 million, compared with analysts' average estimate of $243 million, according to data compiled by LSEG. (Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
Yahoo
07-05-2025
- Business
- Yahoo
Bumble forecasts second-quarter revenue below estimate
(Reuters) -Bumble forecast second-quarter revenue below analysts' estimate on Wednesday, signaling that the dating app operator's turnaround plan is taking longer than expected to yield results. The online dating industry has been grappling with declining user engagement stemming from market stagnation, sticky inflation and a lack of innovative features, prompting companies such as Bumble and its bigger rival Tinder-parent Match to refine their applications to pull subscribers. Paying users for Bumble app decreased 1% to 2.7 million during the first quarter. Bumble is in early stages of revamping its application — a venture that analysts have said may take time to effectively monetize. Earlier this year, the company had said these initiatives were aimed at strengthening the dating app operator's market position and delivering quality features such as integrating artificial intelligence to its platform to enhance users' security. The company expects second-quarter revenue to be between $235 million and $243 million, compared with analysts' average estimate of $243 million, according to data compiled by LSEG. (Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
Reuters
19-02-2025
- Business
- Reuters
Bumble shares slide after weak forecast signals slow dating app turnaround
Feb 19 (Reuters) - Bumble's (BMBL.O), opens new tab shares fell 16% on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users. Shares of the Austin, Texas-based company have slumped about 40% over the past 12 months. Bumble recently announced executive changes including the return of its founder Whitney Wolfe Herd as its chief executive in March. Over the past year, the company has cut jobs, refreshed its Bumble app and expanded its signature "make the first move" feature to include " opening moves" that allow women to set a question that their potential matches can respond to for better conversations. "There's clearly more work to be done on the turnaround and we see visibility limited as management did not provide full-year guidance for the first time," Citi analyst Ygal Arounian said. The company is set to lose more than $142 million in market value, if premarket losses hold. As of last close, Bumble's valuation stood at $876.3 million compared with Tinder-parent Match Group's $8.85 billion. Bumble said it would discontinue its Fruitz and Official dating apps by the first half of this year. "As we prioritize the execution of the important work we're undertaking to reposition Bumble App, we have taken a hard look at how we're allocating our resources across our portfolio," said departing CEO Lidiane Jones. At least six brokerages cut their price target on Bumble after its latest earnings report. Bumble currently trades at 9.98 times the estimates of its earnings for the next 12 months, compared with 16.51 times for bigger rival Match Group (MTCH.O), opens new tab.
