Match Group (NASDAQ: MTCH) reported Q3 EPS of $0.43, $0.11 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $802 million versus the consensus estimate of $802.09 million.

GUIDANCE:

Match Group sees Q4 2021 revenue of $810-820 million, versus the consensus of $838.5 million.

FY 2022

We are very well positioned entering 2022. We expect continued momentum at Tinder and Hinge to drive the mid-to-high teens annual revenue growth that we typically aim for each year. With a full-year contribution from Hyperconnect, we expect the overall company growth rate to approach 20%. Before we provide a 2022 outlook for Adjusted EBITDA, we want to see how app store policies evolve in light of the significant ongoing legislative, regulatory, and legal activity on this topic in jurisdictions across the globe. Excluding potential impacts from any IAP policy changes that go into effect in 2022, we expect Match Group (ex-Hyperconnect) margins to improve modestly and Hyperconnect to operate at mid-single-digit profitability. We anticipate a reduction in legal expenditures in 2022, with a portion of those savings being offset by investments into new safety and CSR initiatives. In addition, given the current highly competitive labor market, we may choose to invest further in attracting and retaining talent next year. We're going to watch the trends for another quarter and provide specific outlooks for 2022 revenue and Adjusted EBITDA on our next call in early February of next year.

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