TECH CRUNCH - Nov 7 - Match Group surpassed analyst's forecasted revenue of $437M, reporting Q3 revenue of $444M, a 29% increase YOY. Match says it expects to bring in a total of $1.72B in annual revenue. Despite positive earnings, the company's 4Q outlook failed to satisfy Wall Street. Match said it expects $440 - $450M in revenue in Q4, falling short of the $454.5M analyst estimate. Shares of Match sank 10% in after-hours trading as a result. Year-to-date, Match's stock is up ~60%. Tinder continues to be Match's growth engine, responsible for half its paid users and half its projected annual revenue. Tinder is expected to bring in $800M in revenue in 2018. Hinge, another app-based dating service acquired by Match in June, is on its way up. Match says it's seen a 5x increase in downloads since it first invested. Match also announced that it would, for the first time, issue a special cash dividend of $2 per share on Match Group common stock and Class B common stock, to be paid out on Dec. 19.
by Kate Clark
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Summarized by the IDEA team
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