Match Group Inc. (MTCH) experienced a significant 6.77% plunge in its stock price during after-hours trading on Tuesday, following the release of its fourth-quarter and full-year 2024 financial results.
The dating app company reported mixed results, with revenue for the quarter reaching $866.2 million, slightly below analysts' expectations. However, adjusted operating income of $361.6 million surpassed estimates, driven by strong performance from its flagship app Tinder.
While Tinder continued to be the primary growth driver, contributing over 50% to the company's adjusted operating income, Match Group's other dating apps, such as Hinge and Esmb Entertainment (E&E), also showed promising growth. Investors were also encouraged by the company's efforts to expand its presence in the Asia-Pacific region, though the segment remained unprofitable.
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