Match Group Stock Climbs 8% On Strong Q2 Results, Hinge Revenue Up 48%

Benzinga07-31

Match Group, Inc. (NASDAQ:MTCH) shares are up 8.37% after the company reported its second-quarter financial results Tuesday.

The Details: Match Group reported quarterly earnings of 48 cents per share, in-line with the analyst consensus estimate. Quarterly sales clocked in at $864 million which beat the analyst consensus estimate of $856.4 million and is a 4.15% increase from the same period last year.

Tinder Direct Revenue was up 1%, while collectively its other brands' Direct Revenue was up 8% over the prior year quarter. Within its other brands, Hinge Direct Revenue was up 48% versus the prior year quarter.

Payers declined 5% to 14.8 million year-over-year and revenue per payer increased 9% over the prior year quarter to$19.05.

“Match Group delivered Q2 results that were slightly ahead of our expectations for both Total Revenue and Adjusted Operating Income, despite incremental FX headwinds and Canada's abrupt enactment of a retroactive Digital Services Tax,” said Bernard Kim, Match Group’s CEO.

“We're pleased that Tinder's initiatives have led to stabilization in year-over-year ("Y/Y") monthly active user ("MAU") trends and improving Y/Y Payer trends. We expect further improvement in Tinder's Y/Y MAU and Payer trends in Q3, as wellas strong sequential Payer net additions,” Kim added.

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(NASDAQ:MTCH) shares are up 8.37% after the company reported its second-quarter financial results Tuesday. The Details: Match Group reported quarterly earnings of 48 cents per share,...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MTCH","symbol_name":"Match Group, Inc.","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/07/40051630/match-group-stock-climbs-on-strong-q2-results-hinge-revenue-up-48","article_id":"2455996260","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2455996260","pubTimestamp":1722382396,"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":"Match Group reported its second-quarter financial results Tuesday. 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