Stellar quarter for Tinder parent as more people pay to find right match

The results are welcome news for the company which has been rocked this year by executive changes and analyst concerns about poor execution of new features on its dating apps.

Match Group topped quarterly revenue estimates as more users looking for matches and connections took paid subscriptions on dating app Tinder, sending the company’s shares up 16 per cent. The results are welcome news for the company which has been rocked this year by executive changes and analyst concerns about poor execution of new features on its dating apps. 

Spiraling inflation has also pressured spending on its apps. Despite the odds, the company’s revenue came in at $810 million for the three months ended September 30, beating the average analyst estimate of $793 million, according to Refinitiv data. 

Tinder’s revenue grew 6 per centand its paying users jumped 7 per cent, aided by the return of a feature that lets users swipe right and left from their desktops. The company, however, forecast flat growth in fourth-quarter revenue for Tinder. 

“Product execution is already improving,” Chief Executive Bernard Kim and finance chief Gary Swidler said to shareholders.

Shares of the company were trading at $51.21 in extended trading. They have declined 66.1 per cent so far this year.