BLOOMBERG – Aug 7 – Match Group's revenue jumped 36% to $421.2M in the Q2, exceeding the average forecast of $413M. The operating income of $150M was up 81% YOY. Earnings were 45 cents a share, surpassing projections for 32 cents. Tinder remains the "growth engine" behind Match, said CEO Mandy Ginsberg. Tinder helped boost direct revenue by 136% YOY in the quarter. The app boasts ~3.7M subscribers, an 81% increase since the second quarter of 2017. Total subscribers across Match Group's 45 brands totaled 7.7M for the three months ending June 30. Match said it's expecting as much as $440M in revenue in the current quarter. For the full year, Match raised the top end of its revenue range by $20M to as much as $1.72B. Match rolled out Picks earlier in the summer, an add-on to the monetized Tinder Gold feature that highlights most likely matches to users. It will also introduce Tinder U, which targets the college-student demographic, in the next few weeks.
by Emily McCormick
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