Match Group, parent to top dating brands including Tinder, OkCupid, POF, Hinge and Match.com, has reported its Q3 earnings for 2019.
The firm’s Total Revenue was up 22% year-on-year to $541 million, while Adjusted EBITDA rose 25% to $206 million.
ARPU was up 4% year-on-year to $0.49, and this figure would have been higher but for foreign exchange effects.
The average number of Tinder subscribers was 5.7 million in Q3 2019, increasing 437,000 sequentially and 1.6 million year-on-year.
Across the portfolio, Average Subscribers rose 19% year-on-year, from 8.1 million in Q3 2018 to 9.6 million today.
Match Group is widely considered to have fallen short of expectations, and it’s stock has dropped significantly as a result. Analysts surveyed by FactSet had predicted $559 million in revenues and $228 million in Adjusted EBITDA.
In after-hours trading, the share price fell from $70.51 to a low of $56.86 – a decline of almost 20%.
It has since levelled out at just over $58.00, giving the dating giant a market cap of $19.32 billion.
Match will host an audiocast conference call at 8.30am ET today to discuss the results.
Read more here.