Match beats revenue estimates as Tinder user growth picks up
BookmarkREUTERS: Match beat Wall Street estimates for quarterly revenue on Tuesday (Aug 4) and forecast current-quarter sales above expectations as its online dating app Tinder attracted more users during the COVID-19 pandemic.Restrictions to stop the spread of the outbreak have limited face-to-face meetings, prompting more people to use dating apps as an alternative.
AdvertisementAdvertisementThe company expects third-quarter revenue of at least US$600 million, above analysts' estimate of about US$575 million, according to Refinitiv IBES data.Tinder's quarterly subscriber additions picked up after slowing down last year, with about 200,000 new users joining the app in the second quarter, taking its average subscribers to 6.2 million.
"Despite the pandemic, our user trends like engagement and willingness to pay for our products is up," Chief Executive Officer Shar Dubey said.Match-owned apps, including Hinge and OkCupid, dominated nearly 61 per cent of the dating app market in the quarter, by measure of monthly active users, according to data from analytics firm Apptopia. headtopics.com
AdvertisementAdvertisementTotal revenue rose 12 per cent to US$555.5 million, beating analysts' average estimate of about US$533.7 million. Read more: CNA »
1.8 million people have received at least one dose of COVID-19 vaccine: Health minister
A total of 1.2 million people have completed the full vaccination regimen, says Mr Gan Kim Yong.
Trump White House meets its match with barstool sportsWASHINGTON (NYTIMES) - During the Bill Clinton presidency, The New Republic billed itself as the in-flight magazine of Air Force One.. Read more at straitstimes.com.
Ralph Lauren quarterly revenue misses estimatesRalph Lauren Corp missed estimates for quarterly revenue on Tuesday, as it struggled to recover from the widespread coronavirus closures earlier ...
Telco SoftBank first-quarter profit rises 4per cent, buoyed by enterprise and internet businessesTOKYO: Japanese wireless carrier SoftBank Corp on Tuesday reported a 4per cent rise in first-quarter operating profit, beating analyst estimates, ...
Take-Two raises sales forecast as videogames get stay-at-home boostREUTERS: Take-Two Interactive Software Inc on Monday raised its fiscal year adjusted sales forecast after beating quarterly estimates on demand ...
Frasers Logistics & Commercial Trust nearly doubles revenue in Q3 amid Covid-19 pandemicSINGAPORE (THE BUSINESS TIMES) - The coronavirus pandemic has not had a material impact on Frasers Logistics & Commercial Trust (FLCT) which saw its third-quarter revenue almost double, the trust's manager said in its latest business update.. Read more at straitstimes.com.