Online Dating Is Exploding: Can Match Group Live Up to Its Lofty Expectations?
Match Group (NASDAQ: MTCH), a global leader in dating apps such as Tinder, Match, and OKCupid, certainly has its work cut out for it. Online dating has seen a boom in recent years as more and more lonely singles turn to their smartphones to look for love.
The company's growth has been nothing short of spectacular. In the third quarter, average subscribers grew 19% year over year to 9.6 million across all of Match's apps, while Tinder's average subscribers surged an impressive 39% to hit 5.7 million. Tinder remains the No. 1 most downloaded and top-grossing dating app worldwide, according to AppAnnie .
Revenue and net income are gaining as well. The first nine months of 2019 saw revenue increase 18% year over year to $1.5 billion, while net income increased 11% to $402.5 million. Match's share price has followed suit, breaking $90 per share and up nearly seven-fold from its IPO price of $12. This makes it one of the best growth stocks in the last four years.
Source Fool.com
