Snap Inc. stumbled through another bleak quarter to end 2022 and executives refused to provide guidance Tuesday, sending shares sliding. Read More...
Reuters
Tinder gets swiped left as Match’s forecast disappoints
(Reuters) -Match Group Inc on Tuesday forecast first-quarter revenue below expectations after Tinder, the face of online dating, became a sore point in 2022 and drove the company’s first ever quarterly decline. While a tough economy and a stronger dollar had also crimped its business, poor product execution at Tinder was the “significant” culprit, Match said. Shares of the Dallas, Texas-based firm fell nearly 11% in trading after the bell, with Match saying it will book charges of about $6 million in 2023, following cuts to marketing spend, headcount and real estate expenses in a cost-saving drive.
