This AI Stock Just Crushed Estimates Again. Time To Buy?
Perion Network (NASDAQ: PERI), the small-cap ad tech stock based in Israel, just delivered another beat-and-raise quarter. The company best known for its intelligent hub (iHUB) that connects digital ad buyers and sellers to optimize ad placements and traffic, said revenue in its second quarter rose 22% to $178.5 million, while adjusted earnings per share jumped 65% to $0.84, beating estimates.
The company also raised its guidance on both the top and bottom lines, raising its revenue guidance from a range of $725 million-$745 million to a new range of $730 million-$750 million, representing 16% year-over-year growth. On the bottom line, it now sees adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least $167 million, up from its prior forecast of at least $155 million, translating to 26% growth.
There were several different channels driving the company's growth, including connected TV revenue, up 104% to $7.2 million; retail media revenue, up 63% to $10.1 million; and revenue from its cookieless targeting solution, SORT, up 84% to $21 million.
Source Fool.com
