What’s New: In this first take following tonight’s results, we touch on: 1. 1Q24 roughly in-line, but 2Q24 and 2024 guidance lower 2. Tinder trough deepens, but still on track for 3Q24 sequential payer growth 3. Hinge growth in line with guidance: RPP better than expected, payers a little light 4. Adjusted OI margins solid, but higher GAAP items called out 5. Share buyback target moved to 75% of FCF from prior 50% target
GREATER CHINA Strategy Alpha Picks: May Conviction Call Adding CR Beer, Crystal, Geely, Haier, Kuaishou, Ningbo Tuopu, Pinduoduo, Shenzhou, and Tencent to our BUY list, closing out SELL calls. Small-Mid Cap Monthly Reiterate BUY on Crystal International. Sector Automobile Weekly: EV sales pick up; take...
Ahead of Tuesday PM’s earnings report, we review key controversies for MTCH, including: 1. Tinder payers: the moment of truth approaches 2. The path to $1 billion in revenue for Hinge 3. Will MTCH outspend the 50% of FCF target for share buybacks again in 2024? We also review what to look for in the investor letter and listen for on the earnings call, our top questions for management, and potential positive and negative catalysts for MTCH.
Artificial intelligence (AI) is a double-edged sword in cybersecurity. Whilst new AI models, architectures, and innovations are emerging to protect the security posture of organisations, attackers are also benefiting from deepfakes, sophisticated phishing, and automation of malicious codes. To ensure the impact of AI on cybersecurity to be a net-positive, we need to pit good AI against bad AI. Point solutions enhanced with machine learning: Global cybersecurity has been built with point soluti...
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