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30.51
0.65%
-0.20
After Hours:
30.59
0.08
+0.26%
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Why is Match Group Inc (MTCH) Stock down?
We've noticed a 17.87% decline in Match Group Inc (MTCH) stock during the 2024-11-07 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
01 Nov, 2023:
Shares of Match Group, Inc. (MTCH) dropped by 15.35% from $34.60 to $29.29 in the trading on Wednesday, November 1, 2023. The reason why MTCH down is due to the company's weaker-than-expected Q4 guidance:
- Downward Q4 Guidance Shakes MTCH Stock: Match Group reported 9% revenue growth, hitting $881.6 million, slightly above expectations. However, the company significantly lowered its Q4 outlook, mainly due to a substantial decline in paying users across regions.
- Revenue Breakdown and Paying User Decline: Match Group's revenue by region: Americas - $455.2 million (up 10%), Europe - $252 million (up 17%), APAC and other - $159.6 million (down 4%). Paying users decreased by 5% to 15.7 million overall, with declines in the Americas (9%), Europe (2%), and APAC and other regions (1%).
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