Match Group expects quarterly results to be at 'low end' because of coronavirus pandemic

Tue, 31 Mar 2020 22:02:08 GMT


Count Match Group Inc. among the latest companies laid low by the coronavirus pandemic. On Tuesday, it said earnings will be at low end of guidance amid fewer new users. "We expect our Q1 results to be around the low end of the ranges we previously shared publicly," company Chief Executive Shar Dubey warned in an SEC filing. "Predicting the rest of the year at this point is premature given the uncertain overall impacts of the virus. We expect the virus's impact may make it challenging to grow revenue from Q1 to Q2 this year, although we currently believe we will have year-over-year Q2 revenue growth. We hope to provide a better sense of Q2 expectations and our outlook for the year on our next public earnings call [scheduled for May 6], along with an overall business update." Match Group shares are up 16.5% in the last year. The broader S&P 500 index is down 10% in the last year.

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