Match Group Stock Is Collapsing: Is There Any Hope Left for the Dating Giant?
2022 was a rough year for Match Group (NASDAQ: MTCH), and 2023 is shaping up to be another disappointment. After falling more than 60% last year, Match Group stock hit a new all-time low last week after reporting its third-quarter earnings. The dating giant and owner of online properties such as Tinder, Hinge, and Match.com saw its revenue and profits grow, but investors were worried about declines in paying subscribers. As of this writing, shares of Match Group are off 83% from highs set in 2021.
Match Group has collapsed in value. Should investors buy the dip, or is it time to give up hope for this online dating leader?
If you just read the headline numbers, Match Group's third-quarter results looked solid. Revenue was up 9% year over year to $882 million, with operating profit up an even stronger 16% to $244 million. That's an impressive operating margin of 28%.
Source Fool.com
