Match Group reports Q1 EPS 42c, consensus 41c

Reports Q1 revenue $787.124M, consensus $793.79M. CEO Bernard Kim said, "Nearly a year has gone by since we started working together and we wanted to outline our accomplishments to date and the opportunities that lie ahead. Our primary focus has been on Tinder – in particular, improving organizational dynamics and product and marketing execution. We’ve aligned the team around one product vision and are developing plans for sustainable long-term growth. While not yet easily visible in the business’s financial results, we’re seeing early signs in April that the changes are leading to greater momentum, which should position Tinder to exit 2023 with much improved financial performance and bright prospects going forward. Hinge continues to shine, with a strong brand story, innovative product features, and plenty of runway on monetization. Having grown to over one million Payers primarily in English speaking markets, we’re now seeing terrific momentum in Europe and are continuing to invest to expand Hinge globally."