Match Group Inc. (NASDAQ:MTCH) stock dropped after the company reported fiscal first-quarter financial results on Thursday.
Total revenue declined 3% year-over-year to $831.2 million as payers fell 5% to 14.2 million. The analyst consensus estimate was $827.5 million.
GAAP EPS of $0.44 missed the analyst consensus estimate of $0.45.
Tinder revenue was down 7% Y/Y, while Hinge revenue increased 23% Y/Y.
Also Read: Match Group Divides Analysts Following Earnings: New Management ‘Likely To Be Well Received’
Revenue per Payer for the first quarter was $19.07, up 1% year-over-year. Tinder payers were 9.1 million, down 6%, and Hinge Payers were 1.7 million, up 19%.
Revenue for the Evergreen & Emerging category fell 12% year over year, and Match Group Asia revenue declined 11% year over year.
The company generated operating cash flow of $193 million and free cash flow of $178 million during the quarter.
Match Group also announced a planned 13% workforce reduction to accomplish $100 million in annualized savings, including approximately $45 million of in-year savings in 2025.
It also centralized key functions, including select technology and data services, customer care and content moderation, media buying, and international go-to-market functions.
Outlook: Match Group expects second-quarter revenue of $850 million-$860 million versus analyst consensus estimate of $846.71 million. The company reiterated full-year 2025 revenue of $3.375 billion-$3.500 billion versus analyst consensus estimate of $3.444 billion.
Price Action: MTCH stock was down 7.47% to $28.11 at the last check on Thursday.
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