Why Match Group Stock Is Rising

Why Match Group Stock Is Rising

Match Group Inc MTCH shares are trading higher by 5.17% to $46.17 Wednesday morning after the company reported better-than-expected third-quarter EPS and sales results.

What Happened?

Match Group reported quarterly earnings of 44 cents per share which beat the analyst consensus estimate of 41 cents. The company also reported quarterly sales of $810.00 million which beat the analyst consensus estimate of $795.43 million by 2%. This sales figure represents a 1% increase over sales of $801.84 million in the same period last year.

The company reported third-quarter paying users of $16.5 million, up from 16.3 million year-over-year.

Match Group sees fourth-quarter revenue as low as $780 million or as high as $790 million, which is below the analyst consensus estimate of $810.35 million.

According to data from Benzinga Pro, Match Group has a 52-week high of $164.56 and a 52-week low of $40.23.

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