Match Group (MTCH) stock jumped in late trading after the Tinder-app owner reported second-quarter profit and earnings that topped expectations.
XThe company also reported earnings before interest, taxes, depreciation and amortization, or EBITDA, that topped views.
Match Group stock jumped 13.2% to 44.01 in after-hours trading on the stock market today.
Match Group said adjusted earnings were 41 cents a share, up 156% from a year ago, with revenue rising 36% to $421.2 million, topping analyst estimates. A year earlier, Match earned 16 cents a share on sales of $309.5 million.
Match Group Growth Beats
Analysts expected the online dating firm to report earnings of 35 cents on sales of $413 million for the period ended June 30.
The company reported EBITDA of $175.5 million, up 60%, topping estimates of $163 million.
The provider of online dating services said it added 299,000 paid Tinder subscribers in the June quarter vs. 224,000 in the year-earlier period.
For the September quarter, Match Group forecast revenue of $435 million at its midpoint of guidance. Analysts had modeled $425 million.
Facebook Entry Into Dating Space
Tinder had 3.8 million subscribers as of June 30, up 81% year over year.
The company holds its earnings call early Wednesday.
The Tinder owner's stock dived in May when Facebook (FB) said it would leverage its social media platform for online dating services. Facebook is still testing its online dating service.
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The post Match Group Stock Soars As Profit, Revenue Beat On Tinder App Growth appeared first on Investor's Business Daily.
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