On Tuesday, Match Group Inc forecast 3 quarter revenue above estimates as more users pay for its dating apps to connect with others both offline and online after pandemic curbs eased. Last year, Tinder, Bumble and other dating apps enjoyed a surge in demand when lockdowns sent people searching for love and friendship online. Now, as vaccinations increase and people step out more, these dating apps are doubling down on features to help them keep those connections and meet in person.
Match Group said it expects 3rd 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 Europe and improvement in U.S., said Chief Executive Officer Shar Dubey in a statement.
The second quarter added Match Group 15 million payers, a recently introduced metric that includes all the users who contributed to its revenue. Revenue per payer increased 10%.
But important markets for India, South Korea, Brazil, and Japan are further behind on the COVID recovery curve, Dubey said.
The Hinge and OkCupid total revenue raised 27% to $707.8 million in the quarter ended June 30, beating expected estimates of about $691.1 million.