(Reuters) – Match Group Inc forecast fourth-quarter revenue below market estimates on Tuesday, suggesting the Tinder owner’s growth could slow as people return to pre-pandemic habits.
The dating industry boomed last year as users relied on video-enabled chat apps to interact online during months-long isolation. But rising vaccinations have encouraged people to step out and meet in person.
Match said it expected fourth-quarter revenue between $810 million and $820 million, below analysts’ average estimate of $838.5 million, according to Refinitiv.
The company’s business also took a hit from a COVID-19 resurgence in Asia, where fewer people used its video and audio chatting app Azar. The company had acquired the app in this year’s purchase of South Korean firm Hyperconnect.
Match, which also owns dating apps Hinge and OkCupid, said revenue rose 25% to $801.8 million in the quarter ended Sept. 30, missing analysts’ estimates of about $802.2 million.
The company added 16.3 million payers, a recently introduced metric that includes all revenue contributers to the company. Revenue per payer rose 8%.
(Reporting by Nilanjana Basu in Bengaluru; Editing by Aditya Soni)
