Match Group (NASDAQ: MTCH) has released its Q2 earnings report for 2018.
The company’s Total Revenue grew year-on-year by 36% to $421 million. Adjusted EBITDA also rose to $176 million, a 60% increase over the preious year’s quarter.
Tinder, one of Match Group’s leading products, saw its average subscribers climb by 299,000, up to 3.8 million. This is a 1.7 million increase from the same time last year.
The better than expected earnings saw investors receive a return of 45 cents per share. Analysts were anticipating a return of 32 cents.
Match Group stock closed the day (7th August) at $38.88, but since the positive earnings report the stock price has accelerated. At the time of writing, the stock price has grown by 11.88% to $43.50, in after-hours and pre-market trading.
Match Group will host a conference call on 8th August at 8:30am ET. The company will answer any questions regarding the financial results. It will also be disclosing information regarding plans for the future, that may affect an investors understanding of the business.
An investor presentation was released alongside the earnings report, which revealed plans for a new Tinder feature based on college campuses, as well as a marketing push for Hinge in the second half of the year.
Read more here.