The company that owns Tinder just got ghosted on Wall Street.
Shares of the hook-up app’s corporate owner Match Group plunged as much as 20 percent Wednesday after it gave a surprisingly weak forecast for subscriber growth.
The Dallas-based Match warned that it now expects Tinder’s quarterly crop of new paying subscribers will fall below the usual range of 200,000 to 250,000.
When asked on a Wednesday conference call whether Tinder’s numbers would rebound, Match execs didn’t directly respond. Tinder added 344,000 paying subscribers in the most recent quarter.
Chief Financial Officer Gary Swidler admitted that many users weren’t renewing subscriptions to Tinder’s paid premium tier introduced last year, Tinder Gold — which enables users to see who has “liked” their profiles without having to sift through stacks of possible matches.
“You do see a big hail of terminations from people … and it’s enough to offset what would otherwise be a pretty good sub-additions number,” Swidler said. “It’s kind of a one-time effect from a surge of a year ago. Nothing more to read into it than that.”
Investors “aren’t exactly sure what they can do from a product perspective to accelerate growth or even keep growth at a similar trajectory to what it’s been,” BTIG analyst Brandon Ross told The Post.
To shore up momentum, Tinder this summer introduced a feature called “Picks,” which gives users a curated bunch of potential matches daily, but it hasn’t stirred much excitement.
“We’re also seeing Tinder have to spend a lot more marketing dollars, which aren’t necessarily able to keep up the same subscriber trajectory,” Ross added.
Match reported earnings per share of 39 cents. But the fourth-quarter revenue outlook was only $440 million to $450 million — below the hoped-for $454 million.
Match Group closed down 17 percent, at $42.72.
The loss was Match’s largest since May, after Facebook said it was working on a dating platform.
- Facebook Messenger