Investors have found themselves swiping left on Match (US:MTCH) after the group delivered a disappointing outlook for the rest of the year. The provider of online dating services expects fourth-quarter revenue of between $545m-$555m (£423m-£431m) and adjusted cash profits (Ebitda) of $205m-$210m, falling short of consensus forecasts of $559m and $228m, respectively. Match says full-year Ebitda will be impacted by around $60m spent on product investment, marketing and costs related to the planned spin-out from 80 per cent owner IAC.
The guidance overshadowed a forecast-beating third quarter ,with adjusted earnings per share of $0.51 exceeding analysts’ expectations of $0.41. Revenue jumped by more than a fifth to $541m, with the average number of subscribers rising by 19 per cent to 9.6m.
