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Match Group Stock: Tinder Parent Sees Slow Recovery in India, Brazil

In the second quarter, Match's profit was 46 cents a share, trailing the analyst consensus.
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Match Group  (MTCH) - Get Match Group, Inc. Report shares fell in after-hours trading Tuesday, after the dating service conglomerate, which owns Match.com and Tinder, reported smaller-than-expected profit.

In the second quarter, net income totaled $140.529 million, or 46 cents a share, up from $106.786 million, or 36 cents a share, in the pandemic-depressed year-ago quarter.

The latest figure trailed the FactSet analyst consensus of 49 cents.

To be sure, revenue surged 27% to $707.76 million in the latest quarter from $555.45 million last year, topping analysts’ forecast of $693.5 million.

Match stock recently traded at $151.70, down 4% in after-hours trading. It firmed 6% in the six months through Tuesday’s close.

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“Our business performed well during the second quarter, and we continue to be optimistic about our momentum as we enter the second half of the year,” said Chief Executive Shar Dubey.

“We are seeing a strong recovery in the U.S. and improvement in Europe as well, but important markets for us such as India, South Korea, Brazil, and Japan are further behind on the COVID recovery curve.” Further, “Against this backdrop, our business is showing clear signs of strength, with more room to run as additional markets come up the vaccination curve,” she said.

Shares fell 3.7%, to $152.65 in after-hours trading.

In May, the company posted first-quarter results that beat Wall Street forecasts. Match's revenue jumped 23% in the quarter to $668 million versus estimates of $650.7 million. Other brands saw a revenue surge of 30%.

The company earned 57 cents a share, 17 cents more than expected by analysts polled by FactSet.

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