COVID-19 has closed a lot of traditional meeting grounds for singles, but the online equivalent has been open, and apparently thriving.
“Despite the pandemic, our user trends, like engagement and willingness to pay for our products, is up, proving what we’ve always known: Our products satisfy a very critical human need, and those needs aren’t going anywhere,” Chief Executive Shar Dubey said in an email. Match showed more confidence in its third-quarter guidance Tuesday, predicting revenue of $600 million or more. Analysts on average were projecting about $563 million in third-quarter sales, according to FactSet.
“Our one-to-many live-streaming video products, especially at Plenty of Fish, are seeing healthy adoption and associated revenue generation,” executives said in the letter. “We have also introduced one-to-one video chat capabilities on most of our major platforms, including Face-to-Face at Tinder.”Services such as video dating are important for Match’s efforts to add paying subscribers to Tinder and other properties, a big reason for its increased revenue recently.
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Merger tricks no match for rolling up the sleevesThe parent of Men’s Wearhouse has filed for bankruptcy after Covid-19 halted in-person shopping and a need for suits. Just six years ago it was a Wall Street plaything, successfully pulling off a so-called Pac-Man defense. It’s a reminder M&A games are no match for good strategy. TheRealLSL How is this surprising? 👔 ReutersBiz TheRealLSL Trump's going to have to start getting his suits from Georgia Tent & Awning.
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Universal Music's Midyear Earnings Were Just OK on Paper, But Pretty Good for During the PandemicRarely can a company’s financial performance be deemed successful with seemingly mediocre financial results, but Universal Music Group is having a decent 2020. Thanks to taylor
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Ferrari trims full-year outlook after earnings skid in second quarterLuxury carmaker Ferrari trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions during the coronavirus pandemic. They blame the white elitist for not buying as many Ferraris as prior years I’ll take some of that inventory off of their hands 👀🤷♂️ Or no one is renting a Ferrari to show off on Ocean Drive after Sunday brunch at Nikki Beach.
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