FILE PHOTO: The dating app Tinder is shown on an Apple iPhone in this photo illustration taken February 10, 2016. REUTERS/Mike Blake/Illustration/File Photo
(Reuters) – Match Group Inc (MTCH.O) forecast current-quarter sales above Wall Street expectations after beating quarterly estimates, as demand for its online dating app Tinder rebounded during the coronavirus lockdowns.
Tinder added about 200,000 users in the second quarter, taking its average subscribers to 6.2 million, as restrictions to stop the spread of the pandemic limited face-to-face meetings and encouraged more people to use dating apps as an alternative.
The numbers also allayed investor concerns over slowing growth at the company’s flagship product, sending shares 3.2% higher after the bell.
“Despite the pandemic, our user trends like engagement and willingness to pay for our products is up,” Chief Executive Officer Shar Dubey said.
Match had revamped its video calling feature to boost usage during lockdowns