Match Group, Inc. (NASDAQ:MTCH) Q3 2024 Earnings Conference Call November 7, 2024 8:30 AM ET

Company Participants

Tanny Shelburne - Senior Vice President, Investor Relations
Bernard Kim - Chief Executive Officer
Gary Swidler - President and Chief Financial Officer

Conference Call Participants

Ross Sandler - Barclays
Benjamin Black - Deutsche Bank
Jason Helfstein - Oppenheimer
John Blackledge - TD Cowen
Nathan Feather - Morgan Stanley
Ygal Arounian - Citigroup
Cory Carpenter - JPMorgan
Justin Patterson - KeyBanc
James Heaney - Jefferies
Daniel Salmon - New Street Research
Shweta Khajuria - Wolfe Research
Curtis Nagle - Bank of America

Operator

Good day and welcome to the Match Group Third Quarter 2024 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Tanny Shelburne, Senior Vice President of Investor Relations. Please go ahead.

Tanny Shelburne

Thank you, operator, and good morning, everyone. Today's call will be led by CEO, Bernard Kim; and President and CFO, Gary Swidler. They'll make a few brief remarks and then we'll open it up for questions.

Before we start, I need to remind everyone that during this call, we may discuss our outlook and future performance. These forward-looking statements may be preceded by words such as we expect, we believe, we anticipate or similar statements.

These statements are subject to risks and uncertainties and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in our earnings release and our periodic reports with the SEC.

With that, I'd like to turn the call over to BK.

Bernard Kim

Thank you, Tanny. Good morning and thank you all for joining today's call. As I reflect on this past quarter, I'm proud of the continued hard work and high level of commitment across the company, which has led us to deliver solid financial results in Q3.

Across the portfolio, we remain focused on driving innovation efforts forward, delivering on our product roadmaps and building a durably growing and highly profitable business and I'm confident in the steps we're taking to strengthen our portfolio and financial performance over the long-term.

As I mentioned during our last call, shareholders rightfully expect both short and long-term results. In the short-term, Tinder's direct revenue was slightly below our expectations driven by the under delivery of certain optimizations. However, Tinder added 311,000 payers sequentially and declined by only 4% year-over-year. This was well above our outlook provided in late July.