Wednesday 5/12/21
DATING

'Summer of love': Tinder parent company Match expects dating boom

The company's business should improve further as more people are vaccinated against coronavirus and social distancing measures are relaxed.
FILED - Zum Themendienst-Bericht vom 11. Dezember 2020: Wer hat sein Tinder aufgemacht? Das verrät immer öfter ein grüner Punkt am Profilbild. Photo: Catherine Waibel/dpa-tmn
Photo: Catherine Waibel/dpa.

The parent company of dating apps Tinder, Hinge, OkCupid and Match.com has a positive outlook following a strong start to the year.

The firm's chief executive Shar Dubey said the group was "looking forward to a summer of love" in its latest quarterly report on Tuesday.

In the first quarter, revenue grew by 23% year on year to 668 million dollars thanks to significantly higher subscription numbers.

Net earnings came in at 174.3 million dollars, after a loss of more than 200 million in the same quarter last year.

Match expects a bigger boom in summer. For the current quarter the firm is projecting up to 690 million dollars in revenue.

The report surpassed analysts' expectations and the firm's share price climbed after trading by more than 6%.

The company's business has fared well during the pandemic, but should improve further as more people are vaccinated against coronavirus and social distancing measures are relaxed, Dubey wrote in a letter to shareholders.

"We are pleased with the way 2021 has begun and are optimistic that the rest of the year will continue this momentum," she wrote.

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