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Match Group Q2 Earnings Meet Estimates, Revenues Up Y/Y
Match Group (NASDAQ: MTCH) reported second-quarter 2024 earnings of 48 cents per share, in line with the Zacks Consensus Estimate. The bottom line remained flat compared to the year-ago quarter's reported figure.
Revenues of $864.07 million increased 4% year over year and beat the Zacks Consensus Estimate by 0.9%. On a FX-neutral basis, revenues increased 8% from the prior-year quarter to $892 million.
Direct revenues were $848.13 million, up 4% year over year, whereas indirect revenues were $15.93 million, which increased 19% from the year-ago quarter.
Top-line growth was driven by strength in Tinder and Hinge. Also, solid momentum across the Americas and Europe regions was a positive.
Match Group Inc. Price, Consensus and EPS Surprise
Match Group Inc. price-consensus-eps-surprise-chart | Match Group Inc. Quote
Quarter in Detail
In the second quarter, the number of total payers decreased 5% year over year to 14.84 million. The figure beat the Zacks Consensus Estimate by 0.2%.
The number of total payers from the Americas decreased 13% year over year to 6.74 million, while the number of total payers from Europe increased 2% year over year to 4.5 million. Meanwhile, total payers of 3.61 million from Asia Pacific (APAC) witnessed a rise of 3% on a year-over-year basis.
Total revenues per payer (RPP) increased 9% year over year to $19.05. The figure beat the Zacks Consensus Estimate by 1%.
Region-wise, RPP increased 20% year over year in the Americas to $22.30 and 4% to $17.79 in Europe. However, in APAC, it declined 4% year over year to $14.55.
Direct revenues from the Americas were up 5% to $450.55 million. Direct revenues from Europe increased 5% to $240.19 million, ...