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InvestmentsTinder owner forecasts revenue below estimates By Reuters

Tinder owner forecasts revenue below estimates By Reuters

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© Reuters. FILE PHOTO: The courting app Tinder is proven on an Apple iPhone on this photograph illustration taken February 10, 2016. REUTERS/Mike Blake/Illustration

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(Reuters) – Match Group Inc (NASDAQ:) forecast fourth-quarter revenue below market estimates on Tuesday, suggesting the Tinder owner’s development might sluggish as individuals return to pre-pandemic habits.

The courting business boomed final 12 months as customers relied on video-enabled chat apps to work together on-line throughout months-long isolation. But rising vaccinations have inspired individuals to step out and meet in particular person.

Match stated it anticipated fourth-quarter revenue between $810 million and $820 million, below analysts’ common estimate of $838.5 million, in keeping with Refinitiv.

The firm’s enterprise additionally took successful from a COVID-19 resurgence in Asia, the place fewer individuals used its video and audio chatting app Azar. The firm had acquired the app on this 12 months’s buy of South Korean agency Hyperconnect.

Match, which additionally owns courting apps Hinge and OkCupid, stated revenue rose 25% to $801.8 million within the quarter ended Sept. 30, lacking analysts’ estimates of about $802.2 million.

The firm added 16.3 million payers, a not too long ago launched metric that features all revenue contributers to the corporate. Revenue per payer rose 8%.

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