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Companies that turn in better-than-expected earnings are rewarded by better-than-average stock returns.
“We'll bundle, create packages where appropriate [and look to] create affinity through brands, magazines and Internet.” No material changes to the corporate or executive structure of Various are planned, according to Mapstead.
Various Inc.'s online properties include adultfriendfinder.com, a site on which many of the 18 million members swap nude photos; Friend Finder Network Inc., a multicultural dating site; and video chat site
It operates through the following segments: Dating and Non-Dating. The Non-Dating segment offers a variety of education services including test preparation, academic tutoring, and college counseling services.
The company was founded on February 12, 2009 and is headquartered in Dallas, TX.
Simultaneously, the matchmaking segment is expected to grow at the highest CAGR of 4.9% from 2018-2025.
Based on subscription, the quarterly segment held 34% of the total market and is anticipated to be dominant during the study period.
The rating change comes after the company's better-than-expected earnings report, which included strong Tinder subscriber growth and an upbeat outlook.
The report helped send Match shares up 24% in Wednesday's session.
Match's stock rally increased the value of IAC's stake by about 7.8 million.
IAC shares have run up 43% year to date, while Match's stock had more than doubled (up 116%) and the S&P 500 has gained 15%.
The buy is by Penthouse Media's latest move to expand as a leader in the adult entertainment industry.Tags: Adult Dating, affair dating, sex dating