Match Group Puts Up Another Solid Earnings Report Despite COVID-19 Headwinds
In the middle of last week, Match Group (NASDAQ: MTCH) reported its fourth-quarter and full-year 2020 earnings and released its shareholder letter. The online dating conglomerate grew sales and users, and maintained high levels of profitability, driving the stock to finish at an all-time high to close out the week. Here's how Match Group did during the year of the COVID-19 pandemic.
Image source: Getty Images.
Match Group had an all-around solid report, growing its sales and profitability in tandem. Full-year revenue was up 17% and hit $2.4 billion with $746 million in operating income. This means that in 2020, Match was able to grow double digits while maintaining a 32% operating margin, an impressive feat when you consider this was the year of the COVID-19 pandemic.
Source Fool.com
