Match ‘remains confident’ revenue can exit FY23 with double digit y/y growth

The company said, "As we start to see the benefits of the work at Tinder, we remain confident that the Company’s Total Revenue and Tinder Direct Revenue can both exit 2023 with double digit Y/Y growth. The lower than initially expected first half of 2023 business performance may contribute to full year Match Group Total Revenue and Tinder Direct Revenue growth rates closer to the low end of our previously communicated ranges of 5% to 10% Y/Y. That said, we’ve already seen improved momentum in April and there are numerous initiatives in flight that could drive incremental growth this year, so we are eager to see how those progress. Note that we estimate $17 million more of Y/Y FX headwinds for Q2 to Q4 than we anticipated at the time of our last earnings call."