- Match Group press release (NASDAQ:MTCH): Q4 GAAP EPS of $0.81 beats by $0.32.
- Revenue of $866.23M (+10.2% Y/Y) beats by $4.94M.
- Tinder Direct Revenue was up 11%, while collectively our other brands’ Direct Revenue was up 9% over the prior year quarter. Within our other brands, Hinge Direct Revenue was up 50% versus the prior year quarter.
- Payers declined 5% to 15.2 million over the prior year quarter.
- RPP increased 17% over the prior year quarter to $18.67.
- For Q1, we expect Match Group to deliver Total Revenue of $850 to $860 million, representing Y/Y growth of 8% to 9%. For Tinder, we expect Direct Revenue to be $480 to $485 million, representing Y/Y growth of 9% to 10%, driven by continued RPP expansion, partially offset by Payer declines in part due to daily new user softness. Across our other brands, we expect Direct Revenue of $355 to $360 million, representing Y/Y growth of 7% to 8%. Within our other brands, at Hinge we expect Direct Revenue to be approximately $120 million, representing Y/Y growth of 45%.
- We expect Q1 Match Group AOI to be $270 to $275 million, representing a margin of 32% at the midpoint of the ranges. We expect an approximately $30 million Y/Y increase in marketing spend, particularly at Tinder and Hinge, as the brands undertake intensive marketing efforts to correspond with peak season.
- For the full year 2024, we expect Match Group to deliver Total Revenue of $3,565 to $3,665 million, representing Y/Y growth of 6% to 9%, which includes an estimated one and a half point Y/Y headwind from FX. At Tinder, we expect Direct Revenue of $2,025 to $2,075 million, representing Y/Y growth of 6% to 8%. We expect Tinder to generate this level of revenue growth primarily through optimizations while product initiatives to drive user growth take hold. We expect to see evidence that these initiatives are working in the second half of the year, including positive sequential Payer net adds by Q3 and Y/Y Payer growth by Q4.
- Across our other brands we expect Direct Revenue to be $1,480 to $1,530 million, representing 6% to 10% Y/Y growth.Within our other brands, at Hinge we expect Direct Revenue of $535 million to $545 million, representing Y/Y growth of 35% to 37%. We expect Indirect Revenue to be approximately $60 million.