• General
  • November 5, 2020
  • 3 minutes read

Match Reports Strong Q3 Results

  Jim Lanzone, CEO, Tinder.Photo credit: Kevin Moloney/Fortune, licensed under Creative Commons Dating app empire Match Group has reported its financial…

 

Jim Lanzone, CEO, Tinder.
Photo credit: Kevin Moloney/Fortune, licensed under Creative Commons


Dating app empire Match Group has reported its financial results for the third quarter of this year, showing revenue of $639.8 million, up 18% year-over-year, and a net income of $132.1 million, up 22% year-over-year. Match’s third-quarter revenue beat analysts’ projections of $606 million (FactSet)
. It seems that even amid the coronavirus pandemic, the dating business has remained strong for Match, which operates popular apps such as Tinder, OkCupid, and PlentyOfFish.

Revenue from Tinder, Match’s most popular app, grew 15% year-over-year, propelled by a 16% year-over-year subscriber growth to 6.6 million. Revenue from non-Tinder brands grew 23% year-over-year.

Match Group ended the quarter with $398.9 million in cash on its balance sheet.



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