FILE PHOTO: Match Group logo and stock graph are seen in this illustration taken, May 1, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Match Group forecast fourth-quarter revenue below Wall Street estimates on Wednesday, signaling weak demand for its dating apps as customers cut back on discretionary spending.
Shares of the Dallas, Texas-based company, which offers dating app services including Tinder, Hinge, OkCupid and Plenty of Fish, fell 12.6% in extended trading.
The company expects revenue between $865 million and $875 million for the fourth quarter, compared with analysts' average estimate of $905.4 million, according to data compiled by LSEG.
Total paying users declined 3% to 15.2 million in the third quarter, the company said, marking an eighth straight quarter of decline.
(Reporting by Jaspreet Singh in Bengaluru; Editing by Shailesh Kuber)
