Match Group (MTCH) Q1 FY2024 earnings: revenue $860 million, up 9.2% on the year

Match Group, Inc. (MTCH) reported revenue of $860 million for Q1 FY2024, the quarter ended 31 March 2024, up 9.2% on the same quarter a year earlier. Net income was $123 million, up 2.0% on the year, and diluted earnings per share $0.44. The figures are the company's own, from the 10-Q it filed with the SEC on 8 May 2024.

Revenue$860 millionup 9.2%

Net income$123 millionup 2.0%

Diluted EPS$0.44

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	860	866	n/a	n/a
Cost of revenue	257	208	n/a	n/a
Gross profit	603	658	n/a	n/a
Gross margin	70.1%	76.0%	n/a
Research and development	116	97.6	n/a	n/a
Operating income	185	260	n/a	n/a
Operating margin	21.5%	30.0%	n/a
Interest expense	40.4	40.4	n/a	n/a
Pre-tax income	154	225	n/a	n/a
Income tax	30.6	-4.8	n/a	n/a
Effective tax rate	19.9%	-2.1%	n/a
Net income	123	230	n/a	n/a
Net margin	14.3%	26.5%	n/a
Diluted EPS	$0.44	$0.81	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	284	276	n/a	n/a
Capital expenditure	17.2	17.4	n/a	n/a
Free cash flow	267	259	n/a	n/a
Free cash flow margin	31.0%	29.9%	n/a
Cash from investing	-26.0	-29.0	n/a	n/a
Cash from financing	-200	-97.6	n/a	n/a
Depreciation and amortisation	30.9	n/a	n/a	n/a
Share-based compensation	63.8	68.2	n/a	n/a
Buybacks	189	101	n/a	n/a
Dividends paid	0.0	n/a	n/a	n/a
Diluted shares, weighted	286m	288m	n/a	n/a
Shares outstanding at period end	266m	269m	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	-108	-19.5	n/a	n/a
Non-controlling interest	0.1	0.5	n/a	n/a
Redeemable equity	n/a	0.0	n/a	n/a
Debt	3,844	3,842	n/a	n/a
Operating lease liabilities	n/a	98.5	n/a	n/a
Other liabilities	667	586	n/a	n/a
Total liabilities and equity	4,403	4,508	n/a	n/a
Fixed assets	188	195	n/a	n/a
Goodwill	2,286	2,343	n/a	n/a
Intangible assets	288	306	n/a	n/a
Investments	5.9	6.2	n/a	n/a
Cash and equivalents	915	862	n/a	n/a
Receivables	225	299	n/a	n/a
Other assets	496	498	n/a	n/a
Total assets	4,403	4,508	n/a	n/a

Questions

What was Match Group's revenue in Q1 FY2024?

Match Group (MTCH) reported revenue of $860 million for Q1 FY2024, the quarter ended 31 March 2024, up 9.2% on the same quarter a year earlier.

How much did Match Group earn in Q1 FY2024?

Net income for Q1 FY2024 was $123 million, up 2.0% on the year, and diluted earnings per share $0.44.

When did Match Group report Q1 FY2024 results?

Match Group filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 8 May 2024.

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-Q for the period ended 31 March 2024, filed 8 May 2024, accession 0000891103-24-000057: the filing on EDGAR. All of Match Group, Inc.'s filings: EDGAR company page.

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