Match Notches Record Drop as Forecast Cut Stalls Turnaround (3)

Match Group Inc. lowered its full-year revenue forecast, a disappointment to investors who were expecting a turnaround at the dating app company amid pressure from activists.

Revenue for 2024 is now expected to gain about 4% instead of 5%, Match President and Chief Financial Officer Gary Swidler said on an earnings call with analysts Thursday, citing a slowdown in the addition of new users on Tinder, its largest dating app.

Shares of Match saw their biggest decline on record Thursday, falling 18% to close at $31.11.

Match is under pressure from investors, including activists Elliott Investment Management LP, Anson ...