Match Group Inc forecast third-quarter revenue above estimates on Tuesday, as more users pay for its dating apps to connect with others both online and offline after pandemic curbs eased. Tinder, Bumble and other dating apps enjoyed a surge in demand last year when lockdowns sent people online in search of love and friendship. Now, as vaccinations gather pace and people step out more, these dating apps are doubling down on features that help them maintain those connections and meet in person.
Match Group said it expects third-quarter revenue between $790 million and $805 million, compared with analysts’ estimates of $766.4 million, according to Refinitiv IBES data.
“We are seeing a strong recovery in the U.S. and improvement in Europe as well,” Chief Executive Officer Shar Dubey said in a statement.
In the second quarter, Match Group added 15 million payers, a recently introduced metric that includes all users who contributed to its revenue. Revenue per payer rose 10%.
“But important markets for us such as India, South Korea, Brazil, and Japan are further behind on the COVID recovery curve,” Dubey said.
The Hinge and OkCupid owner’s total revenue rose 27% to $707.8 million in the quarter ended June 30, beating estimates of about $691.1 million.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor