The Match Group (Buy, TP: $54) 1Q23 guidance misses, Tinder still making the turn, Hinge ahead of plan
We remain positive on MTCH, as Hinge continues its breakout growth with 2023 revenue guidance ahead of our estimate. Tinder is still a little sluggish but virtual currency will officially launch in 2H23, and the new roadmap also includes “new payment methods” and “smart paywalls.” Near-term growth remains soft, but the path to revenue re-acceleration is getting clearer, and margins will increase in 2H23. On the call, we think management will reiterate the key points of its new strategy, and we hope continue to fill in some of the details of its strategic moves to come this year.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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