Match Group reports Q1 adjusted operating income $275M vs. $279M last year

Reports Q1 revenue $831M, consensus $827.4M. “In my first full quarter as CEO, we’ve moved quickly to reinvigorate the business and this quarter’s results show early traction,” said Spencer Rascoff, CEO of Match Group (MTCH). “In just a few months, we’ve unlocked significant cross-company synergies, reorganized our largest business unit, accelerated product development, and brought greater focus and discipline to how we work. The organization is moving faster, aligned on sharper priorities, and beginning to deliver against the strategy we’ve put in place. Match Group is the clear global leader in creating meaningful connections, and today’s changes will allow us to realize the full benefits of our scale. We are breaking down business silos, improving company-wide communication and collaboration, and unleashing efficiencies and innovation. The ultimate beneficiaries of these changes will be the tens of millions of users who rely on our apps to spark meaningful connections. This is a critical first step toward improving user outcomes, which over time drives user growth, revenue expansion, and long-term shareholder value.”