Match Group beat quarterly profit and revenue estimates on Tuesday, as more peop...
- Match Group beat quarterly profit and revenue estimates on Tuesday, as more people joined its popular dating app, Tinder, sending shares up as much as 8 percent in extended trading.
Tinder, which according to recent reports accounts for about two-thirds of Match’s overall valuation, reported 4.7 million average subscribers in the quarter, 1.3 million higher than last year. Net earnings attributable to shareholders rose to $123 million, or 42 cents per share, from $99.7 million, or 33 cents a year ago.Income for the quarter included an income tax benefit of $28 million, the company said.
For the second quarter, the company expects revenue to be between $480 million and $490 million, almost in-line with the midpoint with Wall Street’s expectation of $485.5 million.
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