Why Match Group Stock Jumped Today
Shares of Match Group (NASDAQ: MTCH) rallied on Wednesday after the online-dating specialist's third-quarter sales exceeded investors' expectations. As of 12:18 p.m. ET, the stock was up more than 8% after rising as much as 18% earlier in the session.
Match Group's revenue inched up 1% year over year to $810 million. That was above Wall Street's estimates, which had called for revenue of $793 million.
The strength of the U.S. dollar was a major drag on growth. Excluding foreign exchange rate movements, Match Group's sales grew by 10%.
Source Fool.com
