Opera Shares Rally On Improved Q4 Results

(RTTNews) - Shares of mobile and PC web browsers provider Opera Limited (OPRA) are rising more than 19% Monday morning after reporting improved fourth-quarter results.

The company reported profit from continuing operations of $20.9 million or $0.22 per ADS compared with net loss of $111.57 million or $0.9 per ADS in the year-ago quarter.

In the year-ago quarter, the company had $115.5 million impairment of Nanobank, an investment held for sale at the time.

Excluding one-time items, earnings were $25.9 million or $0.28 per ADS

Revenue for the quarter increased 33% year-over-year to $96.27 million from $72.63 million last year.

The company's Opera GX browser exceeded 20 million monthly average users in the fourth quarter and the total user base increased to 324 million.

OPRA, currently at $8.77, has traded in the range of $3.92-$9.12 in the last 52 weeks.