Match Group stumbles after reporting quarterly earnings
Investors unmatch with Match Group as the company reports a topline miss. Yahoo Finance's Ines Ferre goes in depth.
Video transcript
ADAM SHAPIRO: I want to get on to another round of earnings. And we've got Ines Ferre. Match Group is out, shares trading down after hours. Where did they miss?
INES FERRE: Yeah, that's right, Adam. It looks like a top line miss with revenue coming in at $802 million. The Street was expecting $802.3 million. Also its fourth quarter revenue forecast, that seems to be a miss with Match projecting $810 million to $820 million. The Street is expecting $838.1 million. Earnings per share came in at $0.43. I do want to note also on that revenue, the company saying in a shareholder letter that its total revenue grew 25% over the prior quarter to $802 million, but still shy of what the Street had been expecting.
We are watching shares in after hours that are down about 4%. Keep in mind this stock year to date is down about 2%. And pay attention to any commentary around video, around audio, adding video and audio to several of their apps across their brands. The company acquired Hyperconnect this summer to do just that. There are 13 buys on this stock, five holds, and one sell, with the average price target at $172-- quite above what shares are trading at. Adam.