Match Group Releases Q1 Earnings 2018

the match group

Match Group has reported its Q1 earnings for 2018.

Total revenue was up 36% to $407 million year-on-year.

The number of Tinder Average Subscribers was 3.5 million, up 1.6 million year-on-year and 368,000 sequentially.

A graph from the investor presentation showed rapid increases in paid Tinder subscribers following the introduction of Tinder Gold:

Adjusted EBITDA rose 60% year-on-year to $138 million.

“I’m glad we have everyone’s attention for our best results since our IPO,” said Mandy Ginsberg, CEO.

“We continue to deliver innovative products that customers across our portfolio of brands find valuable, and we are not slowing down anytime soon.

“I am highly confident that our product roadmap, particularly at Tinder, will allow us to remain the clear leader in this category and deliver continued growth for Match Group shareholders.”

The earnings report also notes that Tinder has settled its case against TanTan. The Chinese firm will redesign their US app and make annual royalty payments relative to the size of their user base.

The investor presentation highlights features in testing, such as the Tinder Loops video profile and the ‘First of numerous opt-in location features’.

Read more here.