Tue, Nov 12, 2:17 PM (123 days ago)
Match Group, Inc. (MTCH) reported its Q3 2024 results, showing a 2% revenue increase to $895,484,000, driven by a 36% rise in Hinge revenue. However, Tinder's revenue declined slightly by 1%. Operating income fell 14% to $210,660,000, impacted by higher costs, particularly in product development and impairments related to the termination of live streaming services. Net earnings attributable to shareholders were $136,468,000, down from $163,727,000 in Q3 2023. The company maintains a strong cash position with $855,532,000 in cash and equivalents, and $499,400,000 available under its credit facility. Long-term debt remained stable at $3,875,000,000. Match Group announced a share repurchase program, purchasing $635,600,000 worth of shares in the first nine months of 2024. Despite challenges such as decreased user engagement and competitive pressures, the company is focusing on growth opportunities in its segments while managing costs. Future operations may be impacted by ongoing litigation and regulatory inquiries, particularly concerning data privacy and consumer protection.