Match Group (MTCH) shares fell over 11% in after-hours trading. The company reported second-quarter revenue of $853.1 million. This total missed the Wall Street consensus estimate of $857 million. Revenue declined 1.2% compared to the previous year.
Earnings per share reached 70 cents, beating analyst estimates. Total paying users decreased 6% during the quarter. The paying user base now totals 13.3 million. Tinder engagement trends improved despite the persistent decline in payers.
Match Group projected third-quarter revenue between $885 million and $895 million. The midpoint of this forecast falls below analyst expectations. Investors expressed concern regarding slowing growth and user acquisition challenges.