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/PRNewswire/ -- Match Group (NASDAQ: MTCH) released first quarter 2016 financial results today and separately released an investor presentation which will be reviewed on the earnings conference call.
The presentation is available on the Investor Relations section of its website at
The effective tax rates in Q1 2016 and Q1 2015 were 42% and 24%, respectively.
In Q1 2016, the effective rate was higher than the statutory rate of 35% due primarily to the non-deductible losses on contingent consideration fair value adjustments, partially offset by foreign income taxed at lower rates.
"Match Group posted very strong revenue and Adjusted EBITDA growth in the first quarter, driven by exceptional growth at Tinder, solid performance of Meetic and Match, and the Plenty Of Fish acquisition," commented Adjusted EBITDA increased 94% due primarily to the higher revenue and a decrease in sales and marketing expenses as a percentage of revenue as our sales mix continues to shift towards brands with lower marketing spend, as well as narrowing losses at our Non-dating business.