Monday. 27.05.2024

The parent company of dating apps Tinder, Hinge, OkCupid and 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.

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