MATCH GROUP - In Q3 2024, Match Group's revenue grew by 2% YOY, reaching $895M. The period saw a 3% decline in total payers to 15.2M, while revenue per payer increased by 5% to $19.26. Operating income fell 14% to $211M due to impairment costs associated with phasing out certain live streaming services, although adjusted operating income rose 3% to $343M. Share repurchases continued, totaling $241M for the quarter.
Tinder's performance showed improvement, with a 4% decline in payers, less than Q2's 8% drop. Hinge achieved significant growth, with direct revenue up 36% YOY and reaching record downloads in the U.S. and Europe. Match Group Asia saw steady growth for Azar, especially in Europe, while Evergreen and Emerging brands continued expanding into specific demographic markets.
Match Group expects Q4 revenue between $865-$875M, with slight growth excluding revenue from discontinued services. An Investor Day scheduled for December 11, 2024, will outline further strategic insights.
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