3 Reasons Perion's Growth Is Defying Expectations
Ad-tech stocks have boomed during the pandemic as ad spending has shifted to digital channels, and Perion Network (NASDAQ: PERI) is among the big winners.
The Israeli company provides an intelligent hub that connects publishers like Newsweek with brands like DraftKings and offers premium ads with customizable content and interactive technology. For example, Perion's connected-TV ads can include QR codes that allow viewers to click directly to buy a product they see advertised on screen.
Year to date, the stock has more than doubled, and it skyrocketed following its third-quarter earnings, jumping 31%, after the company smashed expectations. Revenue jumped 45% to $121 million, ahead of the consensus at $109 million, and adjusted earnings per share doubled to $0.40, compared to estimates at just $0.17.
Source Fool.com
