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Match Group Earnings: MTCH Stock Soars on Q1 Beats

Match Group earnings for the first quarter of 2019 have MTCH stock on the rise Wednesday.

MTCH Stock: Is It Time to Swipe Right on Match Group Stock?

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Match Group (NASDAQ:) starts off its earnings report for the first quarter of the year with earnings per share of 42 cents. This is an increase over the company’s earnings per share of 33 cents from the same time last year. It was also a boon to MTCH stock by coming in well above Wall Street’s earnings per share estimate of 32 cents for the quarter.

The Match Group earnings report for the first quarter of 2019 have net income coming in at $123.03 million. This is better than the company’s net income of $99.68 million reported in the first quarter of 2018.

Operating income reported in the Match Group earnings report for the first quarter of the year is $118.83 million. That’s up from the online dating company’s operating income of $112.23 million from the same period of the year prior.

Match Group earnings for the first quarter of 2019 also include revenue of . This is an improvement over the company’s revenue of $407.37 million reported in the first quarter of the previous year. It was also a blessing for MTCH stock by beating out analysts’ revenue estimate of $463.74 million for the period.

Match Group notes that the strong earnings report for the first quarter of the year was partially due to a growing subscriber count. The company had 8.60 million average subscribers during the quarter. It’s average subscribers from the same time in 2018 was 7.40 million.

MTCH stock was up 12% as of noon Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

The post appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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