Match Group Reports Third Earnings Surprise In A Row

Match Group Inc MTCH released its Q2 earnings on Tuesday after the market close. Revenues came in above Wall Street consensus expectations.

The dating app leader reported earnings per share of $0.17 and revenues of $301.119 million. Analysts had EPS estimates of $0.16 and revenue consensus of $296.96 billion.

Average PMC increased 30 percent to 5.3 million compared to 4.1 million for the year ago quarter, driven primarily by growth at Tinder and the acquisition of PlentyOfFish. Total Paid Member Count extended to 5,301 million.

Experts such as SunTrust's Bob Peck thought Match Group was likely to benefit from strong paid member count growth in Q2, which Match confirmed in their earnings report.

"Q2 showed solid performance, with 23% Dating revenue growth, operating income of $74 million and total Adjusted EBITDA of over $100 million," commented Match Group Chairman and CEO Greg Blatt. "We continue to execute against our plan, with exceptional growth at Tinder and solid performance by Meetic, Match and PlentyOfFish."

Unlike last earnings report, when Match closed up 15 percent after surprising estimates, the dating platform company has only gained 2.2 percent at time of writing.