Tinder Parent Match Shares Down 6% After Company's Revenue Miss

By Claudia Assis Markets MarketWatch Pulse

Shares of Match Group Inc. fell more than 6% late Tuesday after the parent of Tinder and other online dating sites reported quarterly sales slightly below Wall Street expectations. Match said it earned $74 million, or 27 cents a share, in the fourth quarter, compared with $36 million, or 16 cents a share, in the year-ago period. Adjusted for one-time items, Match Group earned 29 cents a share, compared with 24 cents a share a year ago. Revenue reached $320 million in the quarter, up 19% from $268 million a year ago. Analysts polled by FactSet had expected the company to report adjusted earnings of 24 cents a share on sales of $321 million. Tinder more than doubled the number of its paid members in 2016, and on average the group's paid member count rose 23%, Match said in a statement. In the same statement, the Dallas, Texas, company said it has agreed to sell The Princeton Review and other non-dating business to education technology company ST Unitas. The deal is expected to close in the first half of the year and terms were not disclosed. Shares had ended the regular trading session down 0.5%.

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