Match Group MTCH reported first-quarter 2026 earnings of 95 cents per share, which surpassed the Zacks Consensus Estimate by 3.26%. The bottom line grew 41.8% from the year-ago quarter’s reported figure.
Revenues were $864 million, which rose 3.9% year over year and beat the Zacks Consensus Estimate by 1.06%. On an FX-neutral basis, revenues were flat year over year at $832.3 million.
Direct revenues were $848 million, up 4.4% year over year, while indirect revenues declined 14.3% to $16 million. Top-line growth was primarily driven by strength at Hinge, where direct revenues rose 28.3% year over year, and was aided by a one-time benefit from Canada's rescission of its digital services tax.
Match Group Inc. Price and EPS Surprise
Match Group Inc. price-eps-surprise | Match Group Inc. Quote
MTCH’s Quarterly Details
In the first quarter, the total number of payers decreased 5% year over year to 13.5 million. The figure missed the Zacks Consensus Estimate by 0.86%.
Total revenues per payer (RPP) increased 10% year over year to $20.9. The figure beat the Zacks Consensus Estimate by 2.13%.
Direct revenues from Tinder were up 2% year over year to $455 million (down 3% on an FX-neutral basis). The figure surpassed the Zacks Consensus Estimate by 3.17%.
Tinder RPP rose 7% year over year to $17.56, and payers declined 5% to 8.6 million.
Hinge revenues grew 28.3% year over year to $194 million (up 24% on an FX-neutral basis), with a 15% increase in payers to 2.0 million and an 11% increase in RPP to $33.13.
Match Group Asia (MG Asia) direct revenues declined 6% year over year (down 7% on an FX-neutral basis) to $60 million, with payers down 9% to 900,000 and RPP up 2% to $21.74. Azar direct revenues were negatively impacted by an estimated $3 million from its temporary removal from the Apple App Store in February 2026, prior to reinstatement in April.
Evergreen and Emerging (E&E) direct revenues declined 6.7% year over year (down 10% on an FX-neutral basis) to $139 million, reflecting a 16% drop in payers to 2 million, partially offset by an 11% gain in RPP to $22.97.
Match Group’s Operating Details
Total operating costs and expenses (72.6% of revenues) decreased 4.7% year over year to $627.5 million in the first quarter. Cost of revenues decreased 11% year over year, representing 24% of total revenue, driven by savings from alternative payments.
Adjusted EBITDA was $342.9 million, up 24.6% year over year, representing an adjusted EBITDA margin of 39.7%, which expanded approximately 700 basis points from 33% in the year-ago quarter.
MTCH’s Balance Sheet
As of March 31, 2026, Match Group had cash, cash equivalents and short-term investments of $1.02 billion compared with $1.03 billion as of Dec. 31, 2025.
Long-term debt, including current maturities, stood at $4 billion as of March 31, 2026, unchanged from Dec. 31, 2025. The company plans to repay $424 million in 0.875% exchangeable senior notes at or before their June 2026 maturity using cash on hand.
In the quarter ended March 31, 2026, Match Group repurchased 2 million shares of common stock for $60 million at an average price of $31 per share.
As of April 30, 2026, $876 million in aggregate value of shares remained available under the company's share repurchase program.
MTCH’s Q1 & 2026 Guidance
Match Group expects second-quarter 2026 revenues of $850 to $860 million, down 2% to flat year over year. This range assumes a 1-point FX tailwind and incorporates a $10 million negative impact from Tinder's user experience tests and a $20 million headwind from lower Azar direct revenue.
Adjusted EBITDA of $325 to $330 million is expected, representing a year-over-year increase of 13% and an adjusted EBITDA margin of 38% at the midpoint of the ranges.
For 2026, Match Group's guidance remains unchanged, with revenues expected in the range of $3.410 to $3.535 billion, roughly flat year over year at the midpoint.
Adjusted EBITDA is expected in the range of $1.28 to $1.325 billion, with an adjusted EBITDA margin of 37.5% at the midpoint. Free cash flow is projected at $1.085 to $1.135 billion, indicating about 8% year-over-year growth.
Zacks Rank & Stocks to Consider
MTCH currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer and Technology sector are Analog Devices ADI, Applied Materials AMAT and Pixelworks PXLW. Each stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Analog Devices have gained 49.3% in the year-to-date period. Analog Devices is set to report the second quarter of fiscal 2026 results on May 20.
Applied Materials shares have gained 59.9% in the year-to-date period. Applied Materials is scheduled to report its second-quarter 2026 results on May 14.
Pixelworks shares have declined 9.5% in the year-to-date period. Pixelworks is set to report its upcoming results on May 14.
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