Match Group Inc, the Dallas, Texas-headquartered American multinational online dating services provider that nurtures fast-growing dating apps likes of Tinder and Hinge, had reported an upbeat quarterly earnings’ report for fiscal fourth quarter of 2020, while its quarterly revenues had insanely beaten Wall Street estimates on an average as demands of its online dating apps such as Tinder, Hinge and Paris soared in the regions where a still-inflaming pandemic outbreak had declined.
In factuality, although it had been a challenging year for the online dating app provider given the scale of pandemic-associated lockdowns alongside restrictions on popular dating HubSpots, yet Match seemingly had weathered the pandemic-driven fiscal storms by adding wide-ranging features that helped flesh up fresh traffics.
Match beats Q4, 2020 revenues estimate as Tinder dominates global dating market
Apart from that, according to Match Group Inc’s quarterly earnings’ report that released late on Tuesday, Match’s flagship online dating app Tinder that offers services in more than fifty countries across the globe having had a whopping 66 million in average monthly active users, remained the most dominant force in global online dating market with 53.8 per cent of market share over the holiday quarter last year, while Match had also reported that its revenues in Asian countries surged as much as 600 per cent in the past five months as Japan turned out to be the Texas-based online dating service provider’s second-largest market behind the United States.
According to Match’s quarterly earnings’ report for Q4, 2020, average subscription on Match-owned apps such as Tinder, Hinge and Paris, rose by 12 per cent to 10.9 million during the quarter that ended on December 31, while the company had totalled a 19 per cent rise in revenues to $651.4 million.
Meanwhile, as Match’s net income climbed to $140.6 million or 48 cents per share on Q4, 2020, compared to a figure of $100.4 million clocked a year earlier, the company said in a letter to shareholders, “In markets like Japan where impact from the pandemic has been relatively muted, we have continued to see strong first-time subscriber growth. ”