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.
Read Next:
Photo by Koshiro K via Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.