Market SentimentThe stock has faded after the print, which is attributed to slower-than-expected Tinder growth, recent macro-led ALC weakness, lack of margin upside from the cost reduction, and negative investor sentiment.
RevenueTinder's direct revenue declined 7% year-over-year, reflecting a decrease in payers and revenue per payer.
User TrendsTinder MAU and Payer trends remained negative and management noted some early indications of weakening ALC purchases at Tinder amid macro uncertainty.