Tinder now has 4.1M paying users, expects $800M in revenue this year

Tinder now has 4.1M paying users, expects $800M in revenue this year

The company, which owns several brands of internet dating services, including Tinder, Hinge, OkCupid and PlentyOfFish, surpassed analyst’s forecasted revenue of $437 million, reporting Q3 revenue of $444 million, a 29 percent increase year-over-year. Despite positive earnings, the company’s 4Q outlook failed to satisfy Wall Street. Shares of Match sank 10 percent in after-hours trading as a result. Year-to-date, Match’s stock is up roughly 60 percent. Match’s total number of paid subscribers came in at 8.1 million, up from 7.7 million in Q2 and a 23 percent increase YoY. Tinder is expected to bring in $800 million in revenue in 2018. Hinge, another app-based dating service acquired by Match in June, is on its way up. Match also announced that it would, for the first time, issue a special cash dividend of $2.00 per share on Match Group common stock and Class B common stock, to be paid out on December 19. Match continues to be on the prowl for strategic M&A opportunities, said its chief executive officer Mandy Ginsberg in a statement. Bumble may refile that suit at the state level.

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Facebook Dating is no challenger to Tinder-owner Match Group (NASDAQ: MTCH), which posted third-quarter earnings per share of 44 cents on Tuesday.

The company, which owns several brands of internet dating services, including Tinder, Hinge, OkCupid and PlentyOfFish, surpassed analyst’s forecasted revenue of $437 million, reporting Q3 revenue of $444 million, a 29 percent increase year-over-year.

Match says it expects to bring in a total of $1.72 billion in annual revenue.

Despite positive earnings, the company’s 4Q outlook failed to satisfy Wall Street. Match said it expects between $440 and $450 million in revenue in Q4, falling short of the $454.5 million analysts’ estimate. Shares of Match sank 10 percent in after-hours trading as a result.

Year-to-date, Match’s stock is up roughly 60 percent.

Tinder, the location-based mobile dating application, continues to be Match’s growth engine, responsible for roughly half its paid users and half its projected annual revenue. Match’s total number of paid subscribers came in at 8.1 million, up from 7.7…

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