Match Group, Inc ( MTCH ) shares fell Wednesday after the company announced financial results for the first quarter.

The Details: Match Group ( MTCH ) reported earnings on Tuesday after the market close that included GAAP EPS of 44 cents, beating analysts estimates of 41 cents, per Benzinga Pro.

Match Group ( MTCH ) also reported sales of $859.658 million, beating analyst estimates of $855.511 million. The company’s sales results were up 9.21% from the same period last year.

Furthermore, the company issued guidance for the second quarter, which appears to be weighing on shares. Match Group ( MTCH ) said it expects second-quarter revenue to be between $850 million and $860 million versus estimates of $881.959 million.

Match Group ( MTCH ) also noted that it expects Tinder direct revenue to be between $475 million and $480 million in the second quarter, representing 9% year-over-year growth. For Hinge, the company sees direct revenue of $125 million to $130 million. This figure represents 50% year-over-year growth.

Match Group ( MTCH ) said it expects total revenue growth for full-year 2024 to be at the lower end of its previous guidance range of 6% to 9%.

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Price Action: Match Group ( MTCH ) shares were down 6.09% at $29.59 at the time of publication, according to Benzinga Pro.