Digital Ad Firm Perion Network Surpasses Q3 Expectations, CEO Tal Jacobson Confident In Meeting Annual Goals
Portfolio Pulse from Anusuya Lahiri
Perion Network Ltd (NASDAQ:PERI) reported Q3 FY23 revenue growth of 17% YoY to $185.31 million, surpassing the consensus of $184.36 million. The company's adjusted EPS of $0.84 also beat the consensus of $0.63. Display Advertising revenues rose 14% YoY, while Search Advertising revenue increased 20% YoY. The company reiterated its FY23 revenue outlook of $730 million - $750 million. Despite losing 18.5% last month, PERI shares traded higher by 7.68% in premarket trading.
November 01, 2023 | 12:45 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Perion Network exceeded Q3 expectations and reiterated its FY23 revenue outlook. Despite a recent dip, the stock is showing signs of recovery.
Perion Network's strong Q3 results and positive FY23 outlook are likely to instill confidence in investors, potentially driving the stock price up in the short term. The recent recovery in premarket trading, following a period of loss, further supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100