Match Group Inc (MTCH.O), the owner of popular dating site Match.com and mobile app Tinder, reported a smaller-than-expected quarterly revenue as it earned lower average revenue per paid user.
Match Group's shares fell 4.8 percent to $11.60 in extended trading on Tuesday after the company issued its first quarterly report since going public in November.
The company, which owns a portfolio of over 45 dating brands, said average revenue per paid user fell to 53 cents in the fourth quarter ended Dec. 31 from 62 cents a year earlier.
Match Group makes money from membership fees and paid features for its online dating services, such as Tinder.
The company's total revenue rose to $267.6 million from about $239 million.
Net income fell to about $35.6 million, or 16 cents per share, from $48.3 million, or 29 cents per share. Excluding items, it earned 24 cents per share.
Analysts on average had expected a profit of 20 cents per share on revenue of $277.3 million, according to Thomson Reuters I/B/E/S.
Barry Diller's Internet company IAC IAC.O owns a majority stake in Match Group.
(Reporting by Sai Sachin R and Anya George Tharakan in Bengaluru; Editing by Savio D'Souza)
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Published Date: Feb 03, 2016 04:30 AM | Updated Date: Feb 03, 2016 04:30 AM