Match Group, the owner of Tinder, beat on both the top and bottom lines.
The dating-service provider delivered fourth-quarter revenue guidance that fell short of Wall Street estimates.
The company said it will deliver a special cash dividend of $2.00 per share for all common stock.
Watch Match Group trade live.
Match Group, the owner of several online dating sites such as Tinder and OkCupid, tumbled as much as 20% Wednesday after the company’s revenue forecast missed Wall Street estimates.
The dating-service provider said after Tuesday’s closing bell that it earned an adjusted $0.39 a share in the third quarter, beating the $0.35 that was expected by analysts, according to Bloomberg data. Meanwhile, its revenue totaled $443.9 million, topping the $438.2 million that was estimated.
“Match Group delivered another quarter of strong top and bottom line growth, with Tinder continuing as our growth engine,” CEO Mandy Ginsberg said in a press release.
“We are making product and marketing investments in our brands to drive growth across our portfolio. Even with these investments, Match Group is generating significant free cash flow and reducing leverage levels, and we have returned a meaningful amount of capital to shareholders.”
Looking ahead, the company said it expects …read more
Source:: Businessinsider – Technology