Why Match Group Stock Fell 9% This Week
Match Group's (NASDAQ: MTCH) investors lost ground to the market this week as shares fell 9% through Thursday trading even as the wider market rose 0.5%, according to data provided by S&P Global Market Intelligence. The decline added to a tough year for owners of the online dating service, whose stock is down nearly 50% so far in 2022.
A poorly received earnings report sparked the slump.
Match said on Tuesday that revenue grew 12% for the second quarter (19% after accounting for currency exchange rates). That boost was supported by continued growth in the user base across dating apps including Tinder, Match, and Hinge. But revenue per user declined in a few of these key brands, and Wall Street was expecting to see more-robust growth.
Source Fool.com
