Grindr Inc reports results for the quarter ended June 30 - Earnings Summary

• Grindr Inc GRND reported quarterly adjusted earnings of 8 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -13 cents. The mean expectation of four analysts for the quarter was for earnings of 10 cents per share. Wall Street expected results to range from 10 cents to 11 cents per share.

• Revenue rose 26.6% to $104.22 million from a year ago; analysts expected $104.73 million.

• Grindr Inc's reported EPS for the quarter was 8 cents​.

• The company reported quarterly net income of $16.64 million.

• Grindr Inc shares had fallen by 17.9% this quarter and gained 4.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.9% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the software peer group is also "buy"

• Wall Street's median 12-month price target for Grindr Inc is $26.00, about 31.2% above its last closing price of $17.89

This summary was machine generated from LSEG data August 8 at 04:52 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)