Perion Network Stock Gets Boost From Q2 Beat, Guidance Lift
Portfolio Pulse from Anusuya Lahiri
Perion Network Ltd (NASDAQ:PERI) reported Q2 FY23 revenue growth of 22% YoY to $178.5 million, beating the consensus of $176 million. Display Advertising revenues rose 22% YoY to $99.4 million, while Search Advertising revenue increased 21% YoY to $79.1 million. The company also raised its FY23 revenue outlook to $730 million - $750 million from the previous $725 million - $745 million. PERI shares opened flat at $35.51 on Wednesday morning.
August 04, 2023 | 11:20 am
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Perion Network reported strong Q2 FY23 results, beating revenue consensus and raising its FY23 outlook. However, PERI shares opened flat.
Perion Network's strong Q2 results and raised FY23 outlook indicate a positive financial performance, which is typically a positive signal to investors. However, the flat opening of PERI shares suggests that the market may have already priced in the positive news, or there may be other factors at play affecting the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100