Shares of Match Group (MTCH) plunged 10.14% in after-hours trading on Tuesday, following the release of the dating app company's second-quarter earnings report. The sharp decline came as investors reacted to a weaker-than-expected revenue outlook and a slight miss on quarterly sales.

Match reported second-quarter revenue of $853 million, down 1% year-over-year and falling short of analyst estimates of $856.8 million. While the company's adjusted earnings of $0.70 per share beat the consensus estimate of $0.65, the top-line miss weighed on sentiment. Paying users across its platforms declined 6% to 13.3 million, with Tinder, its largest brand, seeing a 5% drop in payers and a 1% decline in direct revenue to $457.5 million. Hinge remained a bright spot, posting 22% revenue growth to $203.5 million, but this was not enough to offset the overall weakness.

Investors were further rattled by Match's third-quarter revenue guidance of $885 million to $895 million, which fell below the analyst consensus of $891.5 million. The company also warned that its Evergreen & Emerging (E&E) brands segment, which includes Azar and Pairs, is expected to see direct revenue decline by mid-teens percentage for the full fiscal year, a steeper decline than previously forecast. The weak outlook overshadowed positive signs such as improving daily active user trends at Tinder and continued international expansion at Hinge.