We saw some great news from one of my favorite growth stocks that many of my wealth management clients have owned for years.
Global leader in online dating Match Group (NASDAQ: MTCH) jumped 20% today, hitting a new all-time high after reporting awesome second-quarter results that crushed expectations.
Here are some highlights from the press release.
- Total Revenue grew 18% over the prior year quarter to $498 million. Excluding foreign exchange effects, revenue would have grown 22%.
- Average Subscribers increased 18% to 9.1 million, up from 7.7 million in the prior year quarter.
- Tinder Average Subscribers were 5.2 million in Q2 2019, increasing 503,000 sequentially and 1.5million year-over-year.
- Operating income was $173 million, an increase of 15% over the prior year quarter, and Adjusted EBTIDA increased 16% over the prior year quarter to $204 million.
- ARPU grew 2% over the prior year quarter to $0.58. Excluding foreign exchange effects, ARPU was $0.60, an increase of 5% over the prior year quarter.
Here’s a link to the full earnings report if anyone wants to take a look.
The good news sent shares of Match soaring, jumping 20% in after hours trading, hitting a new all-time high. Match is now up 74% in 2019 and 415% since going public in November of 2015.
I recommended Match Group to my clients as soon as shares went public back in late 2015. You can review my recommendation and analysis below.
It turned out to be a great call and my clients have been raking in big profits on shares.
Moving forward I am expecting more gains from Match. The company is the global leader in online dating and that industry is doing nothing but growing.
Disclaimer: 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.