The Motley Fool fool.com 05 Aug, 2022 14:45 am

Why Match Group Stock Fell 9% This Week

Why Match Group Stock Fell 9% This Week
Wall Street wasn't thrilled with the latest earnings update.

Match is also facing some new financial pressures, with management predicting that the adjusted operating profit margin will fall to 32% of sales next quarter, compared to 36% in the second quarter.Now what The tech company predicted slow growth for the second half of 2022, including essentially flat sales in the third quarter.So what Match said on Tuesday that revenue grew 12% for the second quarter (19% after accounting for currency exchange rates).That boost was supported by continued growth in the user base across dating apps including Tinder, Match, and Hinge.

"We need to do more to excite our user base," CEO Bernard Kim said.In the meantime, the stock might stay pressured as sales growth continues to slow through 2022.

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