Match Group (MTCH) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to the Match Group First Quarter 2022 Earnings Conference Call. Currently, all participants are in a listen-only mode. [Operator Instructions]. We will be facilitating a question-and-answer session towards the end of today’s call. As a reminder, this call is being recorded for replay purposes.

I would now like to turn the call over to Bill Archer, Head of Investor Relations and Corporate Development.

Bill Archer

Thank you, operator, and good morning, everyone. This call will be led by CEO, Shar Dubey; and CFO and COO, Gary Swidler. They will 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 filed with the SEC.

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

Shar Dubey

Thank you, Bill. Good morning, and thank you for joining the call today. On our last call in Feb, I made a comment that this past year has been remarkable for Match Group in many ways, even though the broader world has been a bit disorienting at times. And coming out of this first quarter, the world is in a very different place than the beginning of the year.

Our business is not immune to the macroeconomic headwinds such as the war in Ukraine, the strengthening U.S. dollar against foreign currencies at levels we haven't seen in a while and lingering variants of COVID-19. And despite it all, our business grew 20% in revenue in the first quarter of 2022 with strong growth across the portfolio.

It is this strength in our core business that reminds me what makes our position in the online dating category so unique and resilient. Online dating is not an overnight fad. It is a category and a business model that has built and grown steadily over time. This is not serving a fickle user need.