Match Group (NASDAQ:MTCH) experienced a more than 3% intra-day gain today following the release of its Q2 financial results and the outlook for the current quarter.
In Q2, the company reported impressive figures, with adjusted earnings per share amounting to $0.48 on revenue of $830 million. These results surpassed Street expectations, which had estimated earnings of $0.44 per share on revenue of $811.36 million. The company’s adjusted operating margin for the quarter stood at an impressive 36%.
Notably, Tinder, owned by Match Group, played a significant role in driving positive performance. Tinder’s revenue witnessed a year-over-year increase of 6%, reaching $475 million. This growth was primarily driven by a notable acceleration in subscription revenue throughout the quarter. Additionally, Tinder’s marketing and product initiatives contributed to improved trends in new user acquisitions and reactivations, further bolstering revenue.
Looking ahead to the current quarter, the company anticipates revenue to reach $880 million, surpassing market consensus, which had projected Q3 revenue to be $863.4 million.