revenue

Match beats revenue estimates as Tinder user growth picks up

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) beat Wall Street estimates for quarterly revenue on Tuesday and forecast current-quarter sales above expectations as its online dating app Tinder attracted more users during the COVID-19 pandemic.

Restrictions to stop the spread of the outbreak have limited face-to-face meetings, prompting more people to use dating apps as an alternative.

The company expects third-quarter revenue of at least $600 million, above analysts’ estimate of about $575 million, according to Refinitiv IBES data.

Tinder’s quarterly subscriber additions picked up after slowing down last year, with about 200,000 new users joining the app in the second quarter, taking its average subscribers to 6.2 million.

“Despite the pandemic, our user trends like engagement and willingness to pay for our products is up,”

Read More

Ad rebound drives Pinterest revenue beat; shares surge

(Reuters) – Image sharing company Pinterest Inc (PINS.N) said advertising demand began to improve in May as it reported better-than-expected quarterly results, sending its shares nearly 28% higher.

FILE PHOTO: Screens display the company logo for Pinterest Inc. during the company’s IPO on the front of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermid

More people turned to Pinterest’s platform for content to keep themselves entertained during coronavirus lockdowns, leading to a 39% jump in monthly active users to 416 million in the quarter, beating estimates of 372.7 million.

In a post-earnings call, Chief Financial Officer Todd Morgenfeld said the ad boycott on Facebook’s (FB.O) platform gave Pinterest “an opportunity to win some budgets and educate advertisers about how and why Pinterest is different.”

Ad spend recovered from a slump since mid-March as economic activity resumed following the easing

Read More

Pinterest beats revenue estimates as users surge during lockdowns

FILE PHOTO: Screens display the company logo for Pinterest Inc. during the company’s IPO on the front of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermid

(Reuters) – Image sharing company Pinterest Inc (PINS.N) beat Wall Street estimates for second-quarter revenue on Friday, as more users turned to its platform for content to keep them entertained while under coronavirus lockdowns.

The company, which calls its users “Pinners”, said monthly active users jumped 39% to 416 million during the quarter, beating estimates of 372.7 million, according to Refinitiv IBES data.

Stay-at-home orders to limit the spread of the COVID-19 pandemic have prompted people to use social networking and communication platforms to stay entertained and connected with friends and family.

Pinterest also benefited from its updated shopping feature, with the percentage of users who visited shopping-only feeds growing more than 50% in the

Read More

Facebook smashes revenue estimates amid pandemic, forecasts ad growth

(Reuters) – Facebook Inc (FB.O) beat analysts’ estimates for quarterly revenue on Thursday, as businesses used its digital advertising tools to tap a surge in online traffic during the coronavirus pandemic even as they slashed marketing budgets elsewhere.

FILE PHOTO: A 3D-printed Facebook logo is seen placed on a keyboard in this illustration taken March 25, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

Shares of the world’s biggest social network jumped 7% in extended trading.

Revenue growth was its slowest ever as a public company, reported at 11%, although it beat analysts’ expectations that it would sink to 3%, according to IBES data from Refinitiv.

Ad sales, which contribute nearly all of Facebook’s revenue, rose 10% to $18.3 billion in the second quarter. Monthly active users rose to 2.7 billion, ahead of estimates of 2.6 billion.

Facebook projected that ad revenue for the third quarter is likewise expected to grow faster

Read More