Match Group, the United States-based owner of popular dating apps such as Tinder, OkCupid, and Meetic, announced a broad regulatory change that will affect about 8 percent of its global workforce, translating to roughly two hundred employees being laid off. The decision came alongside the company’s latest annual results, signaling ongoing adjustments as the firm navigates a shifting market landscape.
“We expect to reduce our global workforce by about 8%,” stated Gary Swidler, Match Group’s chief financial officer, during a conference with analysts following the release of the company’s results. The remark underscored the company’s plan to recalibrate operations in response to evolving conditions while aiming to preserve core growth areas.
For the year 2022, Match Group reported a net attributable profit of $361.9 million, equivalent to 333 million euros, marking a 30.3% increase over 2021. This improvement reflected a solid revenue performance and disciplined cost management across the portfolio of apps under the Match Group umbrella.
Total revenues for the year reached $3,189 million (approximately €2,939 million), up 6.9% from the previous year. Tinder continued to be a primary revenue engine, generating $1,794 million (about €1,653 million) of the group’s top line, underscoring its pivotal role in driving monetization and user engagement across the platform family.
Yet, the company’s costs for the year rose to $2,673.8 million (about €2,464 million), an increase of 25.5% from the prior year. The rising expense base hints at investments in product development, scaling infrastructure, and audience acquisition aimed at sustaining long-term growth and user value.
In the fourth quarter, the company posted a net attributable profit of $84.5 million (approximately €78 million) on revenues of $786 million (roughly €724 million). This period marked a 2.5% decline in revenue year over year, contrasting with a loss of $168.6 million (about €155 million) recorded in the same quarter of 2021, highlighting the seasonality and competitive pressures facing the business model.
Looking ahead to the first quarter of 2023, Match Group signaled cautious optimism with a projected revenue range of $790 to $800 million (roughly €728 to €737 million) and adjusted operating profits between $250 and $255 million (about €230 to €235 million). These targets suggested the company expected continued revenue resilience while managing costs in a fluctuating market environment.
Following the forecast release, Match Group’s stock experienced a notable reaction, dipping around 9 percent as investors weighed the projections against broader market expectations and ongoing sector dynamics. The guidance reflects the balance the company seeks between sustaining growth momentum and implementing prudent cost controls during a period of significant workplace realignment and strategic focus.
Source attribution: Match Group earnings materials and official disclosures outlining annual results and forward-looking guidance. [Source attribution: corporate earnings release and subsequent investor communications.]