Match Group: Currency impact on revenue will be negative

The Key Take-Aways

• Match Group says that due to unfavorable foreign exchange rates, the company’s current quarter revenue will be lower than earlier forecasts.
• Online dating website operator says rate impacts will cause revenue to fall by more than $15 million in the fourth quarter. Two-thirds are attributable the Tinder app.
• Match Group also said the drop in new users on Apple iOS remained stable but hasn't fully recovered from the September trend line.

Match Group’s (MTCH) shares fell over 5% after the online dating service operator warned of lower revenue than initially expected because of adverse FX rates. 

Match Group reported ahead of its first investor day that when including the impact of FX, it "expects Q4 Total Revenue and Tinder Direct Revenue to be below the outlook previously provided."

Match Group’s third quarter earnings report estimated that Q4 revenues would range between $865 and $875 millions, while Tinder revenues were expected to be $480-$485 million. It was announced Wednesday by the company that it will have a FX loss of about $15,000,000 more than they had anticipated, and that about two-thirds is due to Tinder. 

Tinder New User Declines on Apple iOS 'Have Not Fully Recovered'

Also weighing on shares was the update on Tinder's new user declines on Apple iOS, which Match Group noted "remain stable at lower levels but have not fully recovered to the early September trend line."

Investors will be pleased to know that the company has announced an additional $1.5 billion of stock buybacks. These are scheduled to begin when the remaining $247 millions in current authorization for share repurchase are exhausted.

Match Group share prices are down 14% in one year.

Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.