Match Group 1Q earnings miss street forecasts

Markets Associated Press

Match Group Inc. (MTCH) on Tuesday reported first-quarter net income of $20.1 million.

Continue Reading Below

The Dallas-based company said it had profit of 7 cents per share. Earnings, adjusted for one-time gains and costs, were 12 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The online dating company posted revenue of $298.8 million in the period, which beat Street forecasts of $293 million, according to FactSet.

Match Group shares have climbed 12 percent since the beginning of the year. The stock has risen 69 percent in the last 12 months.

_____

Continue Reading Below

This story has been corrected to say that its revenue beat expectations.

_____

Elements of this story were generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on MTCH at https://www.zacks.com/ap/MTCH

_____

Keywords: Match Group, Earnings Report