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Match Group (MTCH) Stock Soars on Q2 Tinder Success

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Match Group (NASDAQ: MTCH ) stock was soaring on Tuesday as the company unveiled its latest quarterly earnings results, which were stronger than analysts were calling for.

The company's second quarter of fiscal 2018 was fueled greatly by the continuing success of its dating app Tinder, which helped increase direct revenue by 136% compared to the year-ago quarter. The app has more than 3.7 million subscribers, which marks an 81% gain year-over-year.

Match Group's total subscribers across its 45 brands was about 7.7 million at the end of the quarter. Overall, the company's operating income reached $150.2 million, marking an 81% surge compared to the year-ago quarter.

The dating site owner's earnings came in at 45 cents per share, topping the 32 cents per share that analysts polled by Bloomberg were projecting. Match Group's revenue for its second quarter came in at $421.2 million, a 36% boost compared to the year-ago quarter.

The figure was also stronger than the Wall Street consensus estimate of $413.3 million, according to data compiled by Bloomberg. For its third quarter, the company sees its revenue as rising to as much as $440 million, besting the Wall Street outlook of $426.4 million.

For the fiscal year, Match Group hiked up its revenue forecast by $20 million as it could reach as much as $1.72 billion.

MTCH stock was skyrocketing after hours Tuesday on the company's massive earnings beat and on the success of its dating app Tinder, sending shares up 13.6%. During regular trading hours, MTCH shares were up 1.2%.

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The post Match Group (MTCH) Stock Soars on Q2 Tinder Success 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.


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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