Match Group reported second-quarter results showing Tinder daily active users declined only 4% year over year, the best result in ten quarters, and improved to down 2.5% in July, with Chief Executive Officer Bernard Kim stating the metric is expected to turn positive "any day now." Total revenue was $853 million, a 1% decline year over year, while adjusted EBITDA grew 14% to $331 million and net income rose 36% to $171 million. Tinder direct revenue fell 1% to $457 million, Hinge direct revenue jumped 22% to $204 million, and the Everyone Everywhere segment saw direct revenue drop 17% to $179 million, pressured by the Azar app redesign. The company guided third-quarter revenue of $885 million to $895 million and expects full-year adjusted EBITDA at or above the high end of prior guidance, with margins exceeding 37.5%. Match Group also repurchased 7.3 million shares for $245 million and generated $527 million in free cash flow year to date.
Match Group IncQ2 results beat expectations, EBITDA and net income grew, and guidance was raised.
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