Tinder owner tempers forecast as Omicron woes persist

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(Reuters) -Match Group Inc softened its full-year income forecast on Tuesday as the Tinder owner expects the Omicron COVID-19 variant to proceed hindering dates and meet-ups.

The impression from the pandemic has persevered, particularly throughout sure Asian markets like Japan, whereas rising Omicron infections diminished mobility in lots of markets from early December.

Its shares fell greater than 3% in prolonged buying and selling, as the owner of Hinge and OkCupid additionally missed fourth-quarter income estimates, damage by elevated competitors from rival Bumble.

Match forecast complete income progress between 15% and 20% for 2022, in contrast with an earlier expectation for the speed to method 20%.

“The strengthening of the U.S. greenback relative to a number of different currencies additionally impacted our This autumn efficiency,” the Dallas, Texas-based firm stated in an announcement.

Match expects first-quarter income between $790 million and $800 million, under estimates of $835.7 million, in accordance with Refinitiv IBES.

The firm additionally stated it’s specializing in the worldwide growth of Hinge and expects to start launching the app in choose European international locations within the second quarter.

Hoping to draw extra digital customers, Match has been sharpening deal with the “metaverse” as properly, particularly within the Korean market with its Hyperconnect model. The metaverse is a web-based realm the place folks can join via augmented or digital actuality.

Net loss attributable to Match Group shareholders got here in at $168.6 million, or 60 cents per share, for the fourth quarter ended Dec. 31, in contrast with a revenue of $149 million, or 50 cents per share, a 12 months in the past.

Revenue rose 24% to $806.1 million, lacking expectations of $818.1 million.

(Reporting by Richard Rohan Francis and Tiyashi Datta in Bengaluru; Editing by Devika Syamnath)



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