Love under lockdown

6 May 2020 By Dasha Afanasieva Follow @dasha_reuters

That’s what dating apps like Tinder, Match and Bumble are trying to answer. Diseases like AIDS changed intimacy patterns before. Covid-19 will make it harder for lovers to swipe right with peace of mind. But more engagement, if fewer hookups, may benefit the matchmaker model.

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On May 5, Match said its revenue rose 17% to $545 million in the first quarter from a year ago, roughly in line with analysts’ estimates, according to data from Refinitiv.

Operating profit rose 13% to $135 million and adjusted EBITDA increased 11% over the same quarter of 2019 to $172 million.

Tinder, its biggest app, grew direct revenue by 31% year-over-year, with 28% annual growth in average subscribers.

In a letter to shareholders, Chief Executive Shar Dubey said Tinder plans to launch one-to-one video calling in the second quarter.

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