MATCH GROUP - In Q3 2023, Match Group reported its highest ever quarterly total revenue of $882M, a 9% increase YOY. Key financial highlights include:
- Tinder's revenue rose by 11% YOY, reaching $509M
- Hinge saw 44% YOY increase in revenue, amounting to $107M, driven by substantial user growth, especially in English-speaking and European markets
- Match Group Asia and Evergreen & Emerging segments saw a decline in revenue by 5% and 3% YOY respectively
- Operating Income stood at $244M, marking a 16% YOY growth
- Adjusted Operating Income reached $333M, reflecting a 17% YOY growth
Tinder's Revenue growth was driven by U.S. pricing optimizations, resulting in a raised RPP of $16.28, even though there was a 6% decline in payers. Hinge's success continued, with a 33% YOY increase in payers and an RPP growth of 8% YOY. In contrast, certain brands in Asia and the Evergreen & Emerging segments experienced revenue declines.
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