Match Isn’t Worried About Facebook Dating App Competition
- Company raised profit and revenue forecast for this year
- First-quarter earnings results beat analysts estimates
The Match Group Inc. Match dating app.
Photographer: Gaia Squarci/BloombergThis article is for subscribers only.
Match Group Inc. shrugged off the threat of competition in online dating from Facebook Inc., raising its revenue and profit forecasts and saying it doubts the social media giant will have much of an impact on its business.
The Dallas-based company, which owns apps like Tinder and OkCupid, said revenue will be $1.6 billion to $1.7 billion in 2018, up from its previous projection of $1.5 billion to $1.6 billion. Profit will be higher too, mostly because more people are signing up for a new premium feature on its flagship Tinder app than the company expected. First-quarter revenue and profit beat analyst estimates as well, the company said in a statement Tuesday.