Opera Stock Soars 7%, Adding $93 Million, As Revenue Hits Top Of Guidance
The browser maker previewed third-quarter sales of $182.8 million and 100 million monthly desktop users, with full results due November 17.
Opera, which makes web browsers for PCs and phones, saw its shares climb 7.09% to $15.86 in Tuesday trading as of 12:00 p.m. ET, adding about $93 million in market value, after it previewed third-quarter revenue of $182.8 million, up 20%.
Sales inside the range, profit above it
Revenue landed inside the company's $181 million to $183 million guidance. Adjusted EBITDA, a measure of operating profit before certain costs, beat guidance at $43.2 million, a 24% margin.
Query revenue grew 17% from a year earlier in the third quarter, against 22% growth in advertising revenue, the company said. Opera shared the figures early because its full results come later than usual.
On desktop, monthly users hit 100 million, a 16% annual increase.
A rebound after a slide
Opera sells browsers including Opera One, Opera GX for gamers and the AI browser Opera Neon. It earns money mainly from search distribution, including a share of search revenue from providers such as Google and Yandex, and from ads sold through its Opera Ads platform.
The stock was on pace for its biggest one-day gain since February 26, when it rose 23.4%. At Monday's close it was up about 5% for the year, behind the S&P 500's gain of about 10%. It had fallen 16% over the prior month and sat 28% below its highest close of the past year, set on July 6. Its market value was about $1.4 billion.
Opera will release full third-quarter results before the market opens on Tuesday, November 17, with a conference call at 8:00 a.m. ET.
Sources
- Opera Announces Strong User Trajectory and Q3 Results at the Top End of Guidance — prnewswire.com
- The company's filing (Opera) — SEC filing
