Match Group, Inc. reported a total revenue of $3.48 billion for the fiscal year ending December 31, 2024, reflecting a 3% increase from $3.36 billion in 2023. The company's operating income decreased by 10% to $823.3 million, down from $916.9 million in the previous year. The decline in operating income was attributed to increased costs, including higher stock-based compensation and impairments related to certain intangible assets. Despite these challenges, the company achieved a net income of $551.3 million, compared to $651.5 million in 2023, resulting in diluted earnings per share of $2.02.
In terms of user engagement, Match Group's total payers decreased by 5% to 14.9 million in 2024, down from 15.6 million in 2023. Tinder, the company's flagship brand, saw a slight revenue increase of 1% to $1.94 billion, while Hinge experienced significant growth, with revenue rising by 39% to $550.4 million. The Evergreen & Emerging segment reported a 7% decline in revenue, primarily due to a decrease in payers, while the Asia segment also faced a 6% revenue drop. The company noted that foreign exchange fluctuations negatively impacted revenue, particularly in markets like Argentina and Turkey.
Strategically, Match Group has been consolidating its technology platforms across various brands to enhance efficiency and reduce costs. The company also announced the termination of its Hakuna live streaming service, which was not meeting financial expectations. In 2024, Match Group initiated a share repurchase program, authorizing up to $1.0 billion in stock buybacks, with $752.7 million spent on repurchasing 22.2 million shares during the year. The company plans to continue investing in product development and marketing to drive user growth, particularly for Hinge and Tinder.
Looking ahead, Match Group anticipates modest growth in its overall headcount and continued focus on recruiting talent in technical roles to support innovation and artificial intelligence initiatives. The company expects to maintain its revenue growth trajectory, particularly through Hinge's expansion in European markets and the ongoing optimization of its subscription pricing strategies. However, it remains cautious about potential macroeconomic challenges and competitive pressures in the social connection app market.
About Match Group, Inc.
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