The COVID-19 pandemic torpedoed social activities in 2020 and 2021. Restaurant, bar, and club goers
were forced to change hobbies as large groups were not longer able to congregate. This also spurred
shifts in the dating world. Online dating has already experienced tremendous growth over the past
decade, and that trend accelerated during the pandemic.
Match Group (NASDAQ:MTCH) is a Dallas-based company that provides dating products to a worldwide
client base. Its portfolio of online dating services includes Tinder, Match.com, OkCupid, Hinge, and
dozens of others. Shares of Match have dropped 45% in 2022 as of mid-afternoon trading on July 29.
The stock is down 55% year over year.
Investors can expect to see the company’s second quarter fiscal 2022 results on August 2. In Q1 2022,
Match Group posted revenue growth of 20% from the previous year to $798 million. Meanwhile, the
number of total payers to Match services rose 13% to 16.3 million users. Moreover, adjusted operating
income increased 19% year-over-year to $273 million. Better yet, Match reported a cash and cash
equivalent balance of $912 million – up from $815 million as at December 31, 2021.
Looking ahead to the second quarter, Match is projecting revenues in the range of $800 million to $810
million. Shares of Match are trading in favourable value territory compared to its industry peers. This is a
stock worth buying on the dip in late July.
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