Match Group reports 3Q results and posts weaker outlook for the upcoming quarter
Match Group, a technology company that operates several online dating sites, released its 3Q 2023 results. Adjusted operating profit was up 17% from the same period last year. In the outlook, the company accounts for negative effects related to exchange rate developments and geopolitical events in Israel.
Overall, the company's operating profit for the past quarter amounted to EUR 244 million. The company's operating margin was USD 244 million, with a 16% year-on-year growth, representing an operating margin of 28%. On an adjusted basis, this was $333 million. The quarterly operating margin was US$273 million with an adjusted operating margin of 38%, while the analyst consensus was 26.7%.
The number of payers of services averaged 15.71 million for the quarter, exceeding analyst expectations of 15.65 million. Thus, per paying user, the company recorded revenue of USD 18.39 against estimates of USD 18.87.
Development of the company's operating profit and margin (on the right on an adjusted basis)
Within the range of $855 million, the Company will be able to achieve a profit margin of $855 million. USD 865 million to USD 865 million. The company has set its revenue guidance for the upcoming quarter at USD 855 to USD 856. The Bloomberg analyst consensus was $893.6 million. USD 898 MILLION. The outlook takes into account the negative impact of currency movements, at $27 million. USD 27. Furthermore, the outlook assumes a risk of revenue loss of approximately EUR 7 million. USD 7 million in total revenue generated by the company in Israel.
The Match Group expects adjusted operating profit to be in the range of EUR 305 million. USD 305 million and USD 310 million. USD 250 MILLION.
Match Group shares
Match Group (MTCH) is weakening 7.95% to US$34.6 in the pre-market.