Match Group, Inc. reported its financial results for the third quarter and the nine months ended September 30, 2024, highlighting a modest increase in revenue but a decline in profitability compared to the previous fiscal period.

For Q3 2024, Match Group generated total revenue of $895.5 million, a 2% increase from $881.6 million in Q3 2023. The nine-month revenue also rose to $2.62 billion, up 5% from $2.50 billion in the same period last year. The growth was primarily driven by strong performance from Hinge, which saw a 36% increase in direct revenue for the quarter, reaching $145.4 million, and a 44% increase for the nine months, totaling $402.7 million. In contrast, Tinder's direct revenue for Q3 2024 decreased by 1% to $516.8 million, attributed to a decline in both the number of payers and à la carte revenue.

Operating income for Q3 2024 was $210.7 million, down 14% from $243.6 million in Q3 2023. For the nine-month period, operating income decreased by 9% to $599.9 million from $656.6 million in the prior year. Net earnings for Q3 2024 were $136.5 million, a decline from $163.8 million in Q3 2023, while net earnings for the nine months fell to $393.0 million from $421.8 million in the same period last year.

Match Group's total operating costs and expenses increased, with Q3 2024 expenses at $684.8 million compared to $638.0 million in Q3 2023. The nine-month expenses also rose to $2.02 billion from $1.84 billion. The company incurred impairment charges of $30.6 million related to the termination of live streaming services, which impacted its profitability.

The company’s total assets decreased to $4.43 billion as of September 30, 2024, from $4.51 billion at the end of 2023. Shareholders' equity was reported at $(88.5) million, a decline from $(19.5) million at the end of 2023. The retained deficit improved to $(6.74) billion from $(7.13) billion.

Match Group has also restructured its reporting segments to include Tinder, Hinge, Match Group Asia, and Evergreen & Emerging, effective for the quarterly period ended September 30, 2024. The company continues to face legal challenges, including a lawsuit from the FTC regarding marketing practices and an inquiry from the Irish Data Protection Commission concerning GDPR compliance.

In terms of cash flow, net cash provided by operating activities for the nine months ended September 30, 2024, was $678.0 million, an increase from $620.7 million in the previous year. The company has also been active in share repurchases, having repurchased 19.1 million shares for $635.6 million during the nine months, with an additional 3.0 million shares repurchased for $112.1 million between October 1 and November 1, 2024.