Match Group Rises as Pandemic Reopenings Drive Dating Recovery
- Tinder grew direct revenue by 18% in the first quarter
- CEO Shar Dubey said company is “not out of the woods.”
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Match Group Inc. shares rose after the company reported a better-than expected forecast for revenue growth in the current period, driven by strong demand in markets emerging from Covid-19 restrictions and higher vaccination rates.
The Dallas-based owner of Tinder and other dating apps said it expects second-quarter revenue of $680 million to $690 million. That’s higher than the average analyst estimate of $678.6 million. Match forecast adjusted earnings before interest, taxes, depreciation and amortization of $255 million to $260 million as it continues to spend more on sales and marketing. Analysts had expected $267.3 million, according to data compiled by Bloomberg.