NEW YORK, Feb 2 ― Match Group Inc softened its full-year revenue forecast yesterday as the Tinder owner expects the Omicron Covid-19 variant to continue hindering dates and meet-ups.
The impact from the pandemic has persisted, especially across certain Asian markets like Japan, while rising Omicron infections reduced mobility in many markets from early December.
Its shares fell more than 3 per cent in extended trading, as the owner of Hinge and OkCupid also missed fourth-quarter revenue estimates, hurt by increased competition from rival Bumble.
Match forecast total revenue growth between 15 per cent and 20 per cent for 2022, compared with an earlier expectation for the rate to approach 20 per cent.
“The strengthening of the US dollar relative to several other currencies also impacted our Q4 performance,” the Dallas, Texas-based company said in a statement.
Match expects first-quarter revenue between US$790 million (RM3.3 billion) and US$800 million, below estimates of US$835.7 million, according to Refinitiv IBES.
The company also said it is focusing on the international expansion of Hinge and expects to begin launching the app in select European countries in the second quarter.
Hoping to attract more digital users, Match has been sharpening focus on the “metaverse” as well, especially in the Korean market with its Hyperconnect brand. The metaverse is an online realm where people can connect through augmented or virtual reality.
Net loss attributable to Match Group shareholders came in at US$168.6 million, or 60 cents per share, for the fourth quarter ended December 31, compared with a profit of US$149 million, or 50 cents per share, a year ago.
Revenue rose 24 per cent to US$806.1 million, missing expectations of US$818.1 million. ― Reuters
