Match Group (MTCH) To Report Earnings Tomorrow: Here Is What To Expect
Stock Story
Published May 06, 2024 03:05AM ET
Updated May 06, 2024 06:32AM ET
Match Group (MTCH) To Report Earnings Tomorrow: Here Is What To Expect
Dating app company Match (NASDAQ:MTCH) will be reporting results tomorrow after market close. Here's what investors should know.
Match Group (NASDAQ:MTCH) met analysts' revenue expectations last quarter, reporting revenues of $866.2 million, up 10.2% year on year. It was a weak quarter for the company, with a decline in its users and underwhelming revenue guidance for the next quarter. It reported 15.2 million users, down 5.6% year on year.
Is Match Group a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Match Group's revenue to grow 8.7% year on year to $855.9 million, a reversal from the 1.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.62 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Match Group has missed Wall Street's revenue estimates three times over the last two years.
Looking at Match Group's peers in the consumer subscription segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Coursera delivered year-on-year revenue growth of 14.5%, meeting analysts' expectations, and Chegg (NYSE:CHGG) reported a revenue decline of 7.1%, in line with consensus estimates. Coursera traded down 14.1% following the results while Chegg was also down 28.1%.
Read the full analysis of Coursera's and Chegg's results on StockStory.
Investors in the consumer subscription segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Match Group is down 6% during the same time and is heading into earnings with an average analyst price target of $43.9 (compared to the current share price of $32).
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Written By: Stock Story
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