Why Opera, Ltd. Rallied Today
Shares of internet browser specialist Opera, Ltd. (NASDAQ: OPRA) rallied 20.2% on Thursday as of 1:05 p.m. EDT.
Opera held its fourth-quarter earnings report this morning, in which adjusted (non-GAAP) earnings per share missed estimates, but revenue exceeded them by a fair amount. Opera also gave strong guidance for the year ahead, while authorizing a significant share repurchase program.
In the fourth quarter, Opera recorded 22% revenue growth to $177.2 million, while adjusted EPS grew just 9% to $0.30. In the press release, management pointed to some increased personnel expenses that was abnormal in the quarter due to quarterly fluctuations, which otherwise depressed net margins.
Source Fool.com
