Match Group’s forecast Q1 revenue is below expectations, with issues at Tinder seemingly a key issue.
Tinder’s revenue per payer decreased by 2% in the quarter. Forecast revenue for Q1 was between $790 million and $800 million, below expectations that it would hit around $817 million, according to data from Refinitiv.
Reuters reports that shares of the company fell almost 11% in late trading statistics. Match Group has since shared that it will launch a global marketing campaign to improve the brand perception of Tinder.
Match Group is standing by its forecast of 5% to 10% growth for 2023, with this growth reaching double digits by the fourth quarter of the year.