Business

Barry Diller’s match-making apps soar ahead of expectations

By
Social Links for James Covert
Published Oct. 26, 2015, 10:37 p.m. ET

Billionaire Barry Diller’s IAC/InterActiveCorp posted a better-than-expected quarterly profit, boosted by growth in its dating-sites unit.

Tinder

Match Group reported a profit that narrowly beat analysts’ estimates, as its Match.com and other sites attracted more paying customers.

Also the owner of the fast-growing Tinder mobile hookup app, Match Group said revenue rose 19 percent, to $274.2 million. Excluding the effect of a strong dollar, its revenue jumped 25 percent — a reflection of Tinder’s strong growth overseas.

Match Group, which filed to go public earlier this month, said it expects to list its shares in the fourth quarter.

Net income fell to $65.6 million, or 74 cents per share, from $326.8 million, or $3.68 per share, a year earlier on one-time charges. Total revenue rose 7.2 percent, to $838.6 million.