Match Group (MTCH) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue increased 2% year-over-year to $895.5 million, driven by strong Hinge growth, while Tinder, MG Asia, and Evergreen & Emerging segments declined.

• Adjusted Operating Income for Q3 2024 rose 3% to $342.5 million, with a 38% margin, exceeding expectations.

• Operating income declined 14% year-over-year to $210.7 million, impacted by $37M in impairments and higher product development expenses.

• Hinge became the second most downloaded dating app in the U.S., showing robust user and revenue momentum.

• Net earnings attributable to shareholders were $136.5 million for Q3 2024, down from $163.7 million in Q3 2023.

Financial highlights

• Q3 2024 total revenue: $895.5 million (+2% year-over-year); AOI: $342.5 million (+3% year-over-year).

• Operating income for Q3 2024: $210.7 million (-14% year-over-year); net earnings: $136.5 million.

• Tinder direct revenue: $503.2 million, down 1% year-over-year; Hinge direct revenue: $145.4 million, up 36%.

• MG Asia direct revenue: $72.2 million, down 6% year-over-year; E&E direct revenue: $158.4 million, down 9%.

• Cash and cash equivalents at September 30, 2024: $855.5 million.

Outlook and guidance

• Q4 2024 total revenue expected at $865M–$875M, flat year-over-year; excluding exited live streaming, growth would be 2%–3%.

• Tinder Q4 direct revenue expected to decline 2%–3% year-over-year; Hinge Q4 direct revenue expected to grow ~25%.

• Full-year 2024 total revenue growth expected at ~4% (5% FX neutral); AOI margins at least 36%.

• 2024 cash capital expenditures expected between $50 million and $55 million, flat to 2023.

• 2025 outlook depends on Tinder's product transformation and user trends; more details to be provided at Investor Day.