Match Investors Found Something to Like in Its Q4 Earnings
Match shares soared after it released better-than-expected fourth-quarter financial results late on Tuesday.
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When Match Group Inc. (NASDAQ: MTCH) released its fourth-quarter financial results after the markets closed on Tuesday, the online dating firm said that it had $0.43 in earnings per share (EPS) on $457.3 million in revenue. That compared with consensus estimates of $0.38 in EPS and $448.43 million in revenue, as well as the $0.18 per share and $378.91 million posted in the same period of last year.
During the latest quarter, total revenue grew 21% over the prior-year quarter, driven by 17% average subscriber growth and 4% average revenue per user growth, which came in at $0.58.
Average subscribers increased to 8.2 million from 7.0 million in the prior-year quarter. Tinder average subscribers were 4.3 million in the fourth quarter, increasing 233,000 sequentially and 1.2 million year-over-year
The company offered no guidance in the report, but consensus estimates call for $0.35 in EPS and $469.6 million in revenue for the first quarter.
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For the past year, operating cash flow increased 88% to $603 million, and free cash flow increased 96% to $573 million.
On the books, Match’s cash and cash equivalents totaled $186.95 million at the end of the quarter, down from $272.62 million at the end of the previous fiscal year.
Shares of Match traded up more than 11% at $59.26 shortly after the opening bell. The 52-week range is $33.06 to $60.95, and the consensus price target is $50.24.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
