Match Group on Tuesday forecast second-quarter revenue below analysts' expectations, but said it is seeing signs of growth at Tinder after it made changes at the dating platform.
The dating app Tinder is shown on a mobile phone in this picture illustration taken September 1, 2020. Picture taken September 1, 2020. REUTERS/Akhtar Soomro/Illustration/File Photoon Tuesday forecast second-quarter revenue below analysts' expectations, but said it is seeing signs of growth at Tinder after it made changes at the dating platform.
Shares of the company, whose revenue per paying user grew by about 2% from a year earlier, rose 3% in volatile trading after the bell. "Online dating, though resilient in recent history, is beginning to feel the pressure of tightening wallets and ARPU can be expected to decline industry-wide throughout the rest of 2023," said Nicholas Cauley, an analyst at Third Bridge.
Dating app Hinge introduced a two-tier subscription model, giving users more options, which is expected to increase the average revenue per user and bring in more paying users.
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