Match Group (NASDAQ: MTCH), the company behind the popular dating app, Tinder rose in pre-market trading at the time of writing on Wednesday after the company swung to a profit in the second quarter of $0.48 per share versus a loss of $0.11 in the same period last year and beating analysts’ estimates of $0.45 per share.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The company’s total revenues grew 4% year-over-year to $830 million and surpassed Street estimates of $811.55 million. However, payers declined 5% year-over-year to 15.6 million.
Looking forward, in the third quarter, Match’s total revenues are expected to be in the range of $875 million to $885 million, up by 8% to 9% year-over-year with adjusted operating income likely to be between $320 million and $325 million.
Analysts are cautiously optimistic about MTCH stock with a Moderate Buy consensus rating based on 13 Buys and six Holds.
