Match Group (MTCH, Buy, $55 target) Sigh of Relief as 3Q Tinder payer growth on track
What’s New: In this first take following tonight’s results, we touch on:1. Tinder 2Q net adds better than feared and 3Q payer guidance brings welcome relief
2. No mention of activists in letter, but Investor Day pinned for December
3. Hinge beats on RPP & Payers, #2 most downloaded dating app in collective markets
4. Exiting Live Streaming and shutting down Hakuna, but bringing Azar to the U.S.
5. Adjusted OI margins solid, but Livestreaming exit will add near-term costs
6. Share buyback exceeds 75% of FCF target
Match Group is a provider of dating products available in over 40 languages to its users all over the world through applications and websites it owns and operates. The company operates a portfolio of brands, including Tinder, Match, PlentyOfFish, Meetic, OkCupid, OurTime, Pairs and Hinge, as well as a number other brands. Through its portfolio of brands, the company provides tailored products to meet the varying preferences of its users. All the company's products enable users to establish a profile and review other users' profiles without charge. Each product also provides additional features, some of which are free, and some of which require payment depending on the particular product.
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