Opera Limited (OPRA) Tops Q1 EPS by 2c, Revenues Miss

Opera Limited (NASDAQ: OPRA) reported Q1 EPS of $0.04, $0.02 better than the analyst estimate of $0.02. Revenue for the quarter came in at $40.19 million versus the consensus estimate of $48.48 million.

"Opera's financial outperformance this quarter is a welcome validation of our strategic approach to growth, and highlights our two complementary strengths," noted co-CEO Song Lin. "First, our core businesses are operating at greater scale across our key markets, with higher user engagement. As a consequence, user-driven search and advertising revenues accelerated to 38% year-over-year growth. Second, the strategic investments we have made in adjacent growth categories, including gaming and fintech, are showing good early traction, and we'll continue to invest heavily in them. This includes the launch of our smart shopping/cashback offering in Spain, Opera News performing well at early-stage western market launches, and expanding the features and reach of Opera's GX gaming browser. While we invested heavily in our new initiatives, our adjusted EBITDA came in well ahead of guidance as revenue overperformance cascaded to profits. Overall, this was a very strong start to our year, directly reflecting how well we're executing on all fronts."

For earnings history and earnings-related data on Opera Limited (OPRA) click here.

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