Why Opera's Stock Surged Today
Shares of Opera (NASDAQ: OPRA) rode quite a roller coaster on Thursday, rising as much as 23.6% before settling down to a calmer 6% gain as of 2:30 p.m. EDT. The Norwegian software company's brief spike was triggered by a solid earnings report.
Revenue more than doubled from the year-ago period, landing at $61.7 million. Profit margins tightened up, cutting profits in half at $0.05 per American depositary share. The only Wall Street analyst who offered estimates for this report would have settled for break-even earnings on sales in the neighborhood of $56 million.
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Source Fool.com
