Why Opera Stock Soared Today
Shares of Opera (NASDAQ: OPRA) soared as much as 16.7% higher on Tuesday, goosed by a fantastic earnings report. The Norwegian maker of security-oriented web browsers and other online safety tools beat analyst expectations across the board and offered a bullish-guidance update for the full year. Opera's stock cooled down to a gain of 10.1% at the market close, but that's still a firm 52-week high.
Opera reported several types of robust growth in the third quarter of 2024. Revenues rose 20% year over year to $123 million. Adjusted earnings per diluted American depositary share (ADS) jumped from $0.19 to $0.26 -- a 37% increase. Annualized average revenue per user (ARPU) landed at $1.66, up from $1.33 in the year-ago period.
Your average Wall Street analyst would have settled for earnings near $0.20 per ADS with sales in the neighborhood of $120 million. Opera's management also set up Q4 revenue guidance slightly above the current Street consensus.
Source Fool.com
