Reported 3 months ago
Match Group Inc. shares saw their largest increase in nearly two years after announcing a 6% workforce reduction and better-than-expected earnings. The layoffs are expected to save the company about $13 million annually as it plans to shut down certain livestreaming services. Despite a decline in Tinder's paying users, Match reported a 4% overall revenue growth, driven by a significant increase in Hinge's revenue. Analysts view these developments positively as they indicate stabilization and a potential turnaround for the company amid pressure from activist investors.
Source: YAHOO