Match Group Inc. delivered slightly better-than-expected results Tuesday while posting a mixed outlook for the quarter and year ahead.
The online dating company posted revenue for the December quarter of $651.4 million, up from $547.2 million, whereas analysts surveyed by FactSet had been projecting $649 million.
The company reported net income of $140.6 million, or 48 cents a share, up from $94.7 million, or 46 cents a share, in the year-earlier period. Analysts expected 48 cents in GAAP earnings. Match MTCH,
The dating giant delivered a mixed financial forecast in conjunction with its latest report. Match anticipates total revenue for $2.75 billion to $2.85 billion for 2021, with “strong growth” coming from both Tinder and the company’s portfolio of non-Tinder brands. The company also expects adjusted Ebitda in excess of $1 billion for the full year.
The FactSet consensus called for $2.84 billion in 2021 revenue and $1.09 billion in adjusted Ebitda.
Looking at the first quarter, Match offered guidance of $645 million to $655 million in revenue and $210 million to $215 million in adjusted Ebitda. Analysts were expecting $647 million and $217 million, respectively.
Match’s performance varied by region, depending on COVID-19 dynamics in different countries. The pandemic “meaningfully impacted” first-time subscriber metrics for some of its brands in the U.K. but had less of an impact in Japan, where the COVID-19 crisis has been more muted. Match “continued to see strong first-time subscriber growth” in Japan, per the company’s shareholder letter.
The company also pointed to improvements in India, which was hit hard by the pandemic but saw a reduction in COVID-19 cases recently. “Clear recovery trends in markets like India give us optimism that as COVID factors abate, our subscriber trends should further strengthen,” Match said in its shareholder letter.
