Stock Track | Opera Soars on Stellar Q3 Results, Fuels Growth Momentum

Stock Track10-30

Opera Limited, a leading internet consumer brand and web browser developer, witnessed a remarkable surge in its stock price following the release of outstanding third-quarter financial results and an upward revision of its full-year guidance.

The company reported record revenue of $123.2 million for the third quarter, representing a robust 20% year-over-year growth. This impressive performance was driven by a 26% increase in advertising revenue to $76.8 million, fueled by strong traction in e-commerce and travel verticals. Additionally, search revenue grew 13% year-over-year, supported by a strategic focus on monetizing high-value users.

Reflecting its strong momentum, Opera raised its full-year 2024 revenue guidance to $470-$473 million, indicating year-over-year growth of approximately 19% at the midpoint. The company also increased its adjusted EBITDA guidance to $112-$114 million, or a 24% margin, signaling continued profitability.

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