The Meet Group (MEET) Tops Q4 EPS by 1c

The Meet Group (NASDAQ: MEET) reported Q4 EPS of $0.17, $0.01 better than the analyst estimate of $0.16. Revenue for the quarter came in at $57.6 million versus the consensus estimate of $57.58 million.

Fourth Quarter 2019 Financial Highlights

• Total revenue of $57.6 million, up 10% from the prior year quarter.
• GAAP net income of $4.9 million, or $0.07 per diluted share, compared with $4.3 million, or $0.06 per diluted share in the prior year quarter.
• Adjusted EBITDA of $13.3 million, compared with $10.6 million in the prior year quarter.
• Non-GAAP net income of $12.4 million, or $0.17 per diluted share, compared with $9.4 million, or $0.12 per diluted share, in the prior year quarter.

“This is an exciting time for The Meet Group,” said Geoff Cook, Chief Executive Officer of The Meet Group. “I believe the transaction with ProSiebenSat.1 is a tremendous validation of our strategy to marry livestreaming video with dating. The combination of our companies adds our strength in freemium dating to ProSieben’s existing premium services, resulting in a more dynamic and well-rounded dating portfolio. Further, the transaction will allow us to pursue new strategic opportunities and accelerate growth by leveraging our video platform and ProSieben’s experience with content and entertainment.

“We are pleased with our results in the fourth quarter, which capped a solid year in which we more than doubled video revenue, launched new growth initiatives and further strengthened our safety leadership through new products and partner collaboration. I am proud of our team and all that we have accomplished.”

For earnings history and earnings-related data on The Meet Group (MEET) click here.

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