Match Group Inc. on Tuesday forecast fourth-quarter revenue below market estimates, suggesting Tinder owner growth may slow as people return to pre-pandemic habits.
The dating industry boomed last year as users relied on video-enabled chat apps to converse online during months of isolation. But increased vaccination has encouraged people to get out and meet in person.
Match expects fourth-quarter revenue between $810 million and $820 million, below analysts’ average estimate of $838.5 million, according to Refinitiv.
The company’s business was also hit by a COVID-19 resurgence in Asia, where fewer people used its video and audio chatting app Azar. The company acquired the app this year in a purchase of South Korean firm Hyperconnect.
Match, which also owns dating apps Hinge and OKCupid, said revenue rose 25% to $801.8 million for the quarter ended Sept. 30, beating analysts’ estimates of about $802.2 million.
The company added 16.3 million payers, a recently introduced metric that includes all of the company’s revenue contributors. Revenue per payer grew 8%.
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