A Big Right Swipe for Match Earnings
Match released better-than-expected second-quarter financial results after the markets closed on Tuesday.
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Match Group Inc. (NASDAQ: MTCH) released its second-quarter financial results after the markets closed on Tuesday. The company said that it had $0.41 in earnings per share (EPS) and $421.2 million in revenue, which compares with consensus estimates of $0.36 in EPS on revenue of $413.1 million. The same period of last year reportedly had EPS of $0.16 and $309.57 million in revenue.
During the most recent quarter, total revenue grew 36% year over year to $421 million, driven by 27% average subscriber growth and 8% average revenue per user (ARPU) growth.
Tinder average subscribers were 3.8 million in the second quarter, an increase of 299,000 sequentially and 1.7 million from the same period last year.
The company did not issue any guidance in the report. However, Thomson Reuters has consensus estimates calling for $0.34 in EPS and $424.91 million in revenue for the third quarter.
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On the books, Match cash and cash equivalents totaled $309.76 million at the end of the quarter, up from $272.62 million at the end of the previous fiscal year.
Shares of Match closed Tuesday at $38.88, with a consensus analyst price target of $43.36 and a 52-week trading range of $18.06 to $48.65. Following the announcement, the stock was up about 15% at $44.80 in early indications Wednesday.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
