Match Group Reports Q4 2024 Revenue Growth Amid CEO Change

Match Group, Inc. reported its fourth-quarter 2024 earnings, revealing a total revenue of $3.5 billion for the year, a 3% year-over-year increase, despite a 5% decline in payers. CEO Bernard Kim is stepping down, with Spencer Rascoff taking over on March 1, which coincided with a softer sales outlook that led to an 8% drop in the company's shares. While the overall revenue for the quarter reached $860 million, it slightly surpassed analysts' estimates but fell short of the company's own guidance. Tinder's revenue declined, while Hinge showed significant growth with a 27% increase in sales. The company is focusing on enhancing user experiences through AI innovations and addressing challenges from activist investors concerned about its performance. Match Group's shares have significantly decreased from their 2021 peak, reflecting ongoing operational pressures and market competition.