Match Group (MTCH) is slightly higher premarket after the company reported fourth quarter results above guidance.
Revenue was up 29% to $363 million versus $355-365 million guidance.
Tinder added 544,000 paid subscribers during the quarter, more than the 476,000 it added during the third quarter. Tinder paid subs are up 90% year-over-year to 3.1 million.
Meanwhile, Match and OkCupid brands achieved 'subscriber stability'. Total paid subscribers for all Match Group properties rose 24% to 7 million.
Fourth quarter adjusted EBITDA rose 20% to $153 million versus $147-152 million guidance.
Match guided first quarter EBITDA and revenue above estimates and fiscal 2018 ~in-line, similar to what management laid out three months ago.
Tinder Gold, a premium service that notifies users when someone swipes right, or ‘likes' them, continues to blow out expectations.
The stock is up over 70% since the company launched Tinder Gold last August and the stock hasn't touched its 50-day moving average since then.
Match will host a call this morning at 8:30. Almost 50% of the float is sold short; IAC (IAC) still owns 81% of the shares.