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Investing.com -- Match Group reported first-quarter revenue that topped analyst expectations and provided upbeat guidance, while also announcing plans to reduce its workforce by 13%. Shares of the online dating company jumped 3.3% following the results.
Match Group (NASDAQ:MTCH) posted revenue of $831.2 million for the quarter ended March 31, 2025, beating the consensus estimate of $827.4 million. However, adjusted earnings per share came in at $0.44, falling short of analysts’ expectations of $0.66.
For the second quarter, Match Group forecasts revenue between $850 million and $860 million, above the Wall Street consensus of $846.8 million.
The company said it is implementing organizational changes aimed at creating a more integrated, product-led structure. As part of this shift, Match Group plans to cut its workforce by 13% and centralize key functions to reduce duplication and unlock efficiencies.
"In my first full quarter as CEO, we’ve moved quickly to reinvigorate the business and this quarter’s results show early traction," said Spencer Rascoff, CEO of Match Group. "The organization is moving faster, aligned on sharper priorities, and beginning to deliver against the strategy we’ve put in place."
Total (EPA:TTEF) revenue for Q1 declined 3% YoY, while the number of payers decreased 5% to 14.2 million. However, revenue per payer increased 1% to $19.07.