Match Group, Tinder's parent company, forecasts Q3 revenue below Wall Street estimates due to declining paying users.

Match Group, Tinder's parent company, forecasts Q3 revenue below Wall Street estimates, anticipating weak discretionary spending on dating apps due to a decline in paying users. The company expects revenue of $895m-$905m for Q3, below analysts' average estimates of $915.4m. Activist investor Starboard Value recently acquired a 6.6% stake in Match, urging it to explore a sale if unable to revitalize its business.

July 30, 2024
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