Why Match Group's Stock Is Trading Higher Today

Match Group, Inc. (NASDAQ: MTCH) shares are trading higher after the company reported better-than-expected sales results and issued sales guidance above estimates.

Match Group reported first-quarter average revenue per user of 64 cents per share verse 59 cents in the same quarter last year and sales of $667.61 million which beat the $650.66 million analyst estimate.

Match Group is a provider of online dating products. The firm became public in 2015 and was more than 80% owned by IAC/InterActiveCorp until IAC spun it off in the second quarter of 2020.

Match Group's stock was trading 5% lower at $145.96 at the time of publication. The stock has a 52-week high of $174.68 and a 52-week low of $72.28.