Match Group Stock Climbs On Strong Q2 Results, Hinge Revenue Up 48%
Portfolio Pulse from Erica Kollmann
Match Group, Inc. (NASDAQ:MTCH) shares rose after reporting strong Q2 results. The company posted earnings of 48 cents per share, matching analyst estimates, and sales of $864 million, beating expectations. Hinge's revenue surged 48%, while overall revenue increased by 4.15% year-over-year. Despite a 5% decline in payers, revenue per payer increased by 9%. CEO Bernard Kim highlighted positive trends for Tinder and expects further improvements in Q3.
July 30, 2024 | 8:36 pm
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Match Group reported strong Q2 results with earnings of 48 cents per share and sales of $864 million, beating analyst expectations. Hinge's revenue surged 48%, and overall revenue increased by 4.15% year-over-year. Despite a 5% decline in payers, revenue per payer increased by 9%. The stock rose 6.89% after-hours.
The strong Q2 results, particularly the significant revenue growth from Hinge and overall revenue beat, are positive indicators for Match Group. The market reacted favorably with a 6.89% increase in share price after-hours. The positive trends for Tinder and expected improvements in Q3 further support a bullish outlook.
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IMPORTANCE 90
RELEVANCE 100