Match Group (MTCH) shares plunged 11.01% in after-hours trading following the company's second-quarter earnings release, which included a disappointing revenue outlook for the current quarter and a slight miss on Q2 sales.

The Tinder-parent company forecast third-quarter revenue in the range of $885 million to $895 million, with the midpoint coming in below Wall Street's consensus estimate of $891.5 million. The weak outlook was primarily driven by a steeper-than-expected decline in its Everyone Everywhere (E&E) brands, including Azar and Pairs, where the company now expects mid-teens percentage revenue declines for the full year, compared with a prior forecast of a low double-digit decline.

For the second quarter, Match reported revenue of $853 million, down 1% year-over-year and missing analyst estimates of $856.8 million. Paying users fell 6% to 13.3 million, though revenue per payer rose 6% to $21.13. The disappointing guidance and revenue miss overshadowed positive signs, including a narrowing of daily active user declines at Tinder to 4% – the best in 10 quarters – and continued 22% revenue growth at Hinge.