Match Pledges $50 Million Investment Following Rosy Outlook

Match Group Inc. provided a better-than-expected third-quarter sales forecast and pledged to invest $50 million in product development, suggesting the beginnings of a turnaround at the dating-app company following a yearlong revenue slump.

Third-quarter revenue is expected to range from $910 million to $920 million, the company said in a statement Tuesday, in part thanks to favorable foreign exchange rates. Analysts were expecting $889.8 million, according to Bloomberg-compiled data. Attaining the lower end of that range would mark the first positive quarterly revenue growth since the third quarter of last year.