Match Group beat estimates for third-quarter revenue on Tuesday as more paying users, undeterred by decades-high inflation, signed up on its dating apps Tinder and Hinge, sending the company's shares up nearly 10% in extended trading.
The results are welcome news for the company that has been rocked this year by executive changes and analyst concerns about poor execution of new features on flagship app Tinder. Shares of the company fell 66.1% this year.
The company's revenue rose 1% to $810 million in the three months ended September. Analysts on average had expected about $793 million, according to Refinitiv data.
Paying users for Tinder rose 7%. The app's total revenue grew 6%, aided by the return of the Desk Mode feature that lets users swipe right and left from their desktops.
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