Investors Swipe Right On Match Group Q2 Earnings: The Details

Match Group Inc MTCH shares are moving higher after hours Tuesday following better-than-expected quarterly results from the online dating company.

• Q2 Revenue: $829.55 million, beat estimates of $811.4 million.
• Q2 EPS: 48 cents beat estimates of 45 cents.

Total revenues increased 4% year-over-year. Direct revenue grew 5%, and Tinder direct revenue increased 6%. The company generated $262 million in free cash flow during the second quarter. 

Paying users declined 5% year-over-year to 15.6 million, but revenue per paying user increased 10% to $17.41. 

"In the first half of 2023, Match Group capitalized on effective organizational improvements, which led to better product and marketing execution at our brands, to deliver strengthening financial performance. We expect these trends to continue, with momentum increasing through the rest of the year," the company said in a letter to shareholders.

Outlook: Match Group sees third-quarter revenue in the range of $875 million to $885 million versus estimates of $863.37 million. The company said it anticipates third-quarter Tinder direct revenue growth of close to 10% year-over-year. 

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MTCH Price Action: Match Group shares were up 11.60% after hours at $51.50 at the time of publication, according to Benzinga Pro.

Photo: Solen Feyissa from Pixabay.