Match Group has announced it will publish its financial results for the second quarter after the close of market trading on Tuesday, 3rd August.
A conference call to discuss the results and answer public questions will be hosted the following morning at 8:30am ET. Interested investors can register for the webcast on the company’s Investor Relations page.
The share price currently stands at $161.53, around 15% higher than after the first quarter report, giving it a market cap of $43.7 billion.
This growth was buoyed by the completed acquisition of Korean livestreaming outfit Hyperconnect in June. The deal was closed for $1.725 billion using an even split of cash and stock.
Match Group is planning to use the new subsidiary to strengthen its position in Asia, while taking advantage of Hyperconnect’s technology to increase livestreaming and video offerings across the rest of the portfolio.
Analysts at Zacks Equity Research are tipping Match Group to continue its streak of beating its expected earnings per share. Over the past two quarters the online dating company surpassed predictions by an average of 23.75%.
Earlier this month, Match Group paid $2 million to settle a civil lawsuit against Match.com. Plaintiffs alleged that premium subscriptions were automatically renewed without user consent and that the cancellation process was too confusing.
District Attorney George Gascón asserted that companies must give full disclosure of all automatic renewal terms and Match Group has since updated its procedures.
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