Match falls as paid users decrease, cuts 13% of workforce

Tinder parent Match Group's MTCH.O shares fall 7.6% to $28.04

Paying users for first quarter fell 5% to 14.2 million, from 14.9 million a year ago

MTCH said it will slash 13% of its workforce to cut costs, as co plows ahead with business revamp plan

*Payers play a crucial role in the business, and the observed underperformance, despite a strong top-line outlook, contributes to a more cautious perspective among investors, said Chandler Willison, research analyst at M Science.

Co on Thursday forecast second-quarter revenue between $850 and $860 million, above analysts' average estimate of $846.7 million - data compiled by LSEG

Revenue for quarter ended March 31 declined 3% to $831 million, but still came ahead of estimates of $827.5 million

Up to last close, stock had fallen 7.1% YTD