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Why Match Group Rallied Big Today

TheMotleyFool

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Shares of online dating app conglomerate Match Group (NASDAQ: MTCH) rallied to close up 10.4% on Wednesday.

Match reported earnings last night that beat expectations on the top line and met expectations on the bottom line. And while the company didn't grow last quarter, it appears investors are more encouraged by new CEO Spencer Rascoff's turnaround plan.

In the second quarter, Match's revenue was flat year over year, which beat expectations, while earnings per share of $0.49 met expectations. Yet, the company also guided for revenue between $910 million and $920 million in the third quarter, which would mark a reacceleration to 2% to 3% growth.

Source Fool.com

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