Match Group Shares Plunge 17% Following Disappointing Q2 Results
<p><a href='https://financialmodelingprep.com/financial-summary/MTCH'>Match Group, Inc. (NASDAQ:MTCH)</a> shares closed more than 17% lower on Wednesday following the company’s reported disappointing Q2 results, with EPS coming in at ($0.11), significantly worse than the Street estimate of $0.57.</p>
<p>Revenue increased 12% year-over-year to $794.5 million, compared to the Street estimate of $804.33 million, driven by a 10% growth in Payers and a 3% growth in revenue per payer.</p>
<p>The company anticipates Q3 revenue in the range of $790-800 million, compared to the Street estimate of $885.2 million.</p>
<p>According to the analysts at Deutsche Bank, there is growing uncertainty around product pipeline and roll-out, as well as yet another management change at the top of Tinder, with the company announcing the departure of the Tinder CEO.</p>
<p>According to the analysts, Hinge looks like it is continuing to perform very well, but beyond that, the analysts are largely disappointed with Match Group's results and near-term outlook.</p>
<p>The analyst lowered their price target to $85 from $100, while reiterating their buy rating as they believe this period of softness is most likely attributable to a missed product upgrade cycle originating from flawed execution rather than structural concerns or a more saturated end-market.</p>

NASDAQ:MTCH