Shares of online dating service giant Match Group (NASDAQ:MTCH) well outperformed the market last month, gaining 14% compared to a 7% decline for the benchmark S&P 500, according to data provided by S&P Global Market Intelligence. Overall, the stock is now up more than 50% in 2019, while the broader market has risen less than 10%.
Investors were happy with the first-quarter report that Match Group released in early May. The data showed healthy growth in the Tinder app, with average subscribers rising 36% year over year to 4.7 million. Revenue per subscriber inched higher as well, and marketing costs fell as a percentage of sales. Those successes helped lift the company's net earnings by 23% to $123 million.
Match's growth outlook is bright, with new apps like Hinge seeing early success in attracting robust user bases. Investors are even more excited about the portfolio's potential in international markets such as India and Japan. Thus, as long as subscriber gains remain strong (especially in combination with falling expenses), it's reasonable for investors to expect this stock will continue to perform well, even amidst declines in the broader market.