FILE PHOTO – Job seekers and recruiters at the Tinder table gather at TechFair in Los Angeles, California, U.S. March 8, 2018. REUTERS/Monica Almeida
(Reuters) – Match Group Inc missed Wall Street’s quarterly revenue estimates on Tuesday, as sequential subscriber growth on its popular dating app, Tinder, fell to its lowest in at least a year, sending shares down 10% after the bell.
The online dating service provider also forecast first-quarter revenue in the range of $545 million to $555 million, below analysts’ average estimate of $562.2 million, according to IBES data from Refinitiv.
Tinder added about 200,000 average subscribers in the fourth quarter, taking its total average subscriber count to nearly 5.9 million. The app enjoys nearly 45% market share, according to research firm Apptopia.
The owner of OkCupid and PlentyOfFish faces stiff competition from a host of rivals including Bumble and Facebook Inc’s dating service, amid an ongoing lawsuit from the U.S….
Source Reuters Tech News