Opera Swings To Profit In Q2; Lifts FY23 Guidance; Stock Down In Pre-market

(RTTNews) - Opera Ltd (OPRA), a browser developer, Thursday reported earnings in the second quarter compared to loss in the prior year quarter, on higher revenues. The company also lifted its full-year revenue guidance and issued a third-quarter outlook.

The company reported quarterly net earnings of $13.537 million compared with net loss of $5.836 million last year, bringing up the margin to 14.4 percent from negative 7.5 percent.

Earnings per ADS were $0.15 compared with a loss of $0.05 per ADS prior year.

Revenues increased 21 percent to $94.134 million from $77.834 million last year, especially on a strong product lineup and continued scaling among high-value users.

Looking ahead to the next quarter, the company expects Adjusted EBITDA to be between $18.5 million and $20.5 million, representing a 20% margin at the midpoint.

Revenue is expected to be between $97 million and $100 million, representing 15% year-over-year growth at the midpoint.

Looking forward to the full year, the company is now expecting adjusted EBITDA to be between $80 million and $84 million or a 21% margin at the midpoints, up from $77 million to $83 million.

Revenue is now expected to be $380 million to $390 million, up from $373 million to 390 million.

In pre-market activity, shares of Opera are trading at $14.11, down 6.49% on Nasdaq.