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.
