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Opera Limited (NASDAQ: OPRA) has reported its second-quarter 2024 financial results, showcasing a performance that exceeded expectations. Revenue for the quarter reached $109.7 million, representing a 17% year-over-year increase. This growth not only surpassed the company’s guidance range but also highlighted the robust demand for Opera’s products and services. Adjusted EBITDA for the quarter came in at $26.6 million, translating to a 24% margin, which also exceeded the anticipated range. The company’s product lineup was further bolstered by the launch of Opera One on iOS, demonstrating rapid innovation across platforms.

For the first half of 2024, Opera reported revenue of $211.6 million, a 17% increase compared to the same period in 2023. Net income for the quarter was $19.3 million, a significant 43% increase from the previous year’s $13.5 million. This resulted in a net income margin of 18%, up from 14% in the same quarter last year. Over the first six months of the year, net income reached $34.1 million, up 18% from $29 million in the first half of 2023. These figures underscore Opera’s strong financial health and its ability to generate substantial profits.

Opera Beats EPS and Revenue Expectations in Q2

Comparing the current performance against expectations, Opera’s results for the second quarter of 2024 were notably ahead of what analysts had anticipated. The company reported earnings per share (EPS) of $0.16, which met the market’s expectations.

However, the revenue of $109.7 million surpassed the expected $108.54 million, reflecting a stronger-than-anticipated market presence. This outperformance can be attributed to the company’s strategic initiatives and successful product launches, which have resonated well with consumers.

Moreover, the adjusted EBITDA of $26.6 million, with a margin of 24%, exceeded the company’s own guidance. This robust performance highlights Opera’s operational efficiency and its ability to manage costs effectively while driving revenue growth.

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Future Guidance

Looking ahead, Opera has raised its full-year outlook once again, reflecting confidence in its growth trajectory. The company now expects to achieve 17% year-over-year revenue growth at the midpoints, with an adjusted EBITDA margin of 24%.

This revised guidance underscores Opera’s optimism about its future prospects and its ability to sustain its growth momentum. The company’s strategic investments in product development and market expansion are expected to continue driving financial performance.

Opera’s decision to increase its guidance for both revenue and adjusted EBITDA is a testament to its strong market position and the effectiveness of its strategic initiatives. The launch of Opera One on iOS and ongoing innovations across platforms are likely to further strengthen the company’s product portfolio, attracting more users and driving revenue growth. Investors and stakeholders can take confidence in Opera’s ability to deliver on its promises and achieve its financial targets.

Disclaimer: The author does not hold or have a position in any securities discussed in the article.

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