Match Group has seen its share price recover from a sharp drop that followed the release of its Q3 earnings report this week.
MTCH fell from $69.85 on Tuesday, 5th November to $62.10 on Wednesday, 6th November; an 11% dip. The price fell even lower during after-hours trading, but retrospective reports hide this information.
The dating umbrella has recovered quickly, though, peaking at $70.80 on Friday. At the time of writing, each share is worth $69.70.
Analysts predicted revenues of $559 million for Q3 2019, but the figure came in at $541 million. Adjusted EBITDA was also $20 million short of expectations.
CEO Mandy Ginsberg said in the company’s conference call: “This quarter, overall company ARPU was up $0.02 year-over-year to $0.59. On an FX-neutral basis, total company ARPU was up 6% to $0.60 and international ARPU was up 7%.
“(…) the company’s Q3 total revenue was $541 million for year-over-year growth of 22%, an acceleration of 4 points from Q2 ’19. Total revenue growth would have been 24% without the impact of FX for total revenue of $550 million on a constant currency basis.”
Match outlined a number of key product decisions alongside its financial reporting. It will introduce one-to-many video to POF and Twoo, and invest in streaming app Ablo over the coming months.
The firm will also look to expand OkCupid’s presence across the Middle East, using it to complement recent acquisition Harmonica in the region.
Visit the Match Group website here.