Match Group Inc (NASDAQ:MTCH) shares are trading lower by 3.8% at $152.51 Wednesday morning after the company reported worse-than-expected second-quarter EPS results.
Match Group reported quarterly earnings of 46 cents per share which missed the analyst consensus estimate of 51 cents per share.
Match Group also reported quarterly sales of $707.76 million which beat the analyst consensus estimate of $689.33 million.
In a letter to shareholders Match Group stated: “POF Live! and Swipe Apps are on track to contribute at least $50M of revenue in 2021. Hinge grew revenue close to 150% in the second quarter and remains on track to more than double revenue in 2021.”
Match Group is a provider of online dating products. The firm became public in 2015 and was more than 80% owned by IAC/InterActiveCorp until IAC spun it off in second-quarter 2020.
Match Group has more than 45 brands of online dating sites and/or apps, from which it generates user fee revenue (95%) and advertising revenue (5%).
Match Group has a 52-week high of $174.68 and a 52-week low of $100.25.
