Match Group (MTCH) Q4 FY2023 earnings: revenue $866 million, up 10.2% on the year

Match Group, Inc. (MTCH) reported revenue of $866 million for Q4 FY2023, the quarter ended 31 December 2023, up 10.2% on the same quarter a year earlier. Net income was $230 million, up 171.5% on the year, and diluted earnings per share $0.81. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.

Revenue$866 millionup 10.2%

Net income$230 millionup 171.5%

Diluted EPS$0.81

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	866	882	n/a	n/a
Cost of revenue	208	256	n/a	n/a
Gross profit	658	626	n/a	n/a
Gross margin	76.0%	71.0%	n/a
Research and development	97.6	94.1	n/a	n/a
Operating income	260	244	n/a	n/a
Operating margin	30.0%	27.6%	n/a
Interest expense	40.4	40.4	n/a	n/a
Pre-tax income	225	211	n/a	n/a
Income tax	-4.8	47.3	n/a	n/a
Effective tax rate	-2.1%	22.4%	n/a
Net income	230	164	n/a	n/a
Net margin	26.5%	18.6%	n/a
Diluted EPS	$0.81	$0.57	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	276	291	n/a	n/a
Capital expenditure	17.4	12.6	n/a	n/a
Free cash flow	259	278	n/a	n/a
Free cash flow margin	29.9%	31.6%	n/a
Cash from investing	-29.0	-10.2	n/a	n/a
Cash from financing	-97.6	-303	n/a	n/a
Share-based compensation	68.2	61.7	n/a	n/a
Buybacks	101	300	n/a	n/a
Diluted shares, weighted	288m	293m	n/a	n/a
Shares outstanding at period end	269m	272m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	-19.5	-299	n/a	n/a
Non-controlling interest	0.5	0.4	n/a	n/a
Redeemable equity	0.0	0.0	n/a	n/a
Debt	3,842	3,841	n/a	n/a
Operating lease liabilities	98.5	n/a	n/a	n/a
Other liabilities	586	707	n/a	n/a
Total liabilities and equity	4,508	4,249	n/a	n/a
Fixed assets	195	191	n/a	n/a
Goodwill	2,343	2,268	n/a	n/a
Intangible assets	306	311	n/a	n/a
Investments	6.2	5.9	n/a	n/a
Cash and equivalents	862	707	n/a	n/a
Receivables	299	288	n/a	n/a
Other assets	498	479	n/a	n/a
Total assets	4,508	4,249	n/a	n/a

Questions

What was Match Group's revenue in Q4 FY2023?

Match Group (MTCH) reported revenue of $866 million for Q4 FY2023, the quarter ended 31 December 2023, up 10.2% on the same quarter a year earlier.

How much did Match Group earn in Q4 FY2023?

Net income for Q4 FY2023 was $230 million, up 171.5% on the year, and diluted earnings per share $0.81.

When did Match Group report Q4 FY2023 results?

Match Group filed its 10-K for the year that ended with the quarter on 23 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	882	866	860	864	895	860	831	864	914	878	864	853
Cost of revenue	256	208	257	245	253	236	237	242	247	222	211	204
Gross profit	626	658	603	619	642	624	594	622	667	656	653	649
Gross margin	71%	76%	70%	72%	72%	73%	71%	72%	73%	75%	76%	76%
R&D	94.1	97.6	116	114	104	109	121	115	105	109	117	115
Operating income	244	260	185	205	211	223	173	194	221	285	236	245
Operating margin	28%	30%	21%	24%	24%	26%	21%	22%	24%	32%	27%	29%
Interest expense	40.4	40.4	40.4	40.0	40.1	39.6	35.3	32.2	37.0	43.1	42.5	42.4
Pre-tax income	211	225	154	175	178	198	140	158	194	255	201	215
Tax rate	22%	-2%	20%	24%	23%	20%	16%	20%	17%	18%	17%	21%
Net income	164	230	123	133	136	158	118	125	161	210	167	171
Net margin	19%	27%	14%	15%	15%	18%	14%	15%	18%	24%	19%	20%
Diluted EPS	$0.57	$0.81	$0.44	$0.48	$0.51	$0.59	$0.44	$0.49	$0.62	$0.83	$0.68	$0.70
Operating cash flow	291	276	284	129	265	255	193	244	321	323	194	370
Capital expenditure	12.6	17.4	17.2	12.7	13.1	7.6	15.4	12.9	13.8	14.7	20.4	17.3
Free cash flow	278	259	267	116	252	247	178	231	307	308	174	353
Buybacks	300	101	189	199	243	122	189	231	130	239	60.1	185
Dividends paid	n/a	n/a	0.0	0.0	0.0	0.0	47.8	47.2	45.9	45.4	44.2	46.7
Shares outstanding	272m	269m	266m	260m	254m	251m	249m	242m	239m	233m	234m	230m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 23 February 2024, accession 0000891103-24-000014: the filing on EDGAR. All of Match Group, Inc.'s filings: EDGAR company page.

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