Match Group Beats On Q4 Earnings, Authorizes $1B Share Buy-Back

Author: Erica Kollmann | January 30, 2024 05:40pm

Match Group, Inc. (NASDAQ:MTCH) reported better-than-expected fourth-quarter financial results on Tuesday after the bell. Here’s a look at the highlights.

The Details:

Match Group reported quarterly earnings of 81 cents per share which beat the analyst consensus estimate of 49 cents by 65.31%. The company reported quarterly sales of $866 million, beating the analyst consensus estimate of $861.22 million by 0.56% and representing a 10.16% increase over sales of $786.15 million from the same period last year.

The company also reported that the board has authorized a $1 billion share repurchase program.

Match Group sees first-quarter total revenue of $850 million to $860 million, representing
year-over-year growth of 8% to 9% and full year 2024 total revenue of $3.565 billion to $3.665 billion, representing year-over-year growth of 6% to 9%.

“In 2023, we made changes to our leadership team and focused on product innovation to better
drive sustainable long-term user and revenue growth. At the same time, we implemented
initiatives to deliver revenue acceleration throughout the year and continued to drive high levels
of profitability and cash flow,” said CEO Bernard Kim in a letter to shareholders.

“We've ramped up our innovation velocity across the company. Throughout 2024, we will harness
AI to enable our businesses to evolve their existing products and build disruptive new products
and user experiences that meet the changing needs and expectations of their target audiences
and drive user growth,” Kim added.

Related News: Super Micro Computer Reports Q2 Financials, Raises 2024 FY Guidance: Over 100% YOY Sales Increase

MTCH Price Action: According to Benzinga Pro, Match Group shares are up 1.24% after-hours at $38.20 at the time of publication.

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Posted In: MTCH