There’s a lot of lonely people in the world. Need evidence? Take a look at Match Group’s (NASDAQ: MTCH) first quarter results – a stock widely held by my wealth management clients.
Shares jumped 12% today after Match reported better than expected first-quarter results.
Here are some more details from the Match press release.
Q1 2019 HIGHLIGHTS
- Total Revenue grew 14% over the prior year quarter to $465 million. Excluding foreign exchange effects, revenue would have grown 18%.
- Average Subscribers increased 16% to 8.6 million, up from 7.4 million in the prior year quarter.
- Tinder Average Subscribers were 4.7 million in Q1 2019, increasing 384,000 sequentially and 1.3million year-over-year.
- ARPU was flat over the prior year quarter; however, excluding foreign exchange effects, ARPU was $0.60, an increase of 4% over the prior year quarter.
- Realigned management team to focus on the market opportunity in Asia and accelerate international growth
Here’s a link to the full press release if anyone wants to take a look.
Match went public 3.5 years ago. Since then shares are up more than 350%. Take a look at the beautiful trend below.
What’s the Plan Moving Forward?
Match is one of my favorite stocks. This company is the single largest online dating company in the world. Match is like an online dating conglomerate – it owns all the best online dating brands including Match and Tinder.
Looking forward I’m bullish. The online dating industry should keep growing for many years. Take a look at the growth projection from market research firm Statista.
My plan is to keep holding shares for my clients – while looking to add shares on any signs of weakness.
If anyone has questions or comments please say hello.
Your Investment Partner,
This report is for entertainment purposes only. Every investor should consult with an investment advisor before making investment decisions. The Vodicka Group, Inc. is not a broker/dealer. We do not receive compensation for mentioning stocks. At various times, the clients, publishers and employees of Vodicka Group, Inc., may buy or sell the securities discussed for purposes of investment or trading.