Perion Network Ltd. (PERI) announced preliminary Q1 2024 financial results and updated its full year 2024 guidance, citing a decline in Search Advertising activity due to changes in Microsoft Bing's advertising pricing and mechanisms. Q1 revenue is expected to be $157M, with full year revenue forecasted between $590M-$610M, a significant decrease from prior estimates. The company attributes the decline mainly to Search Advertising and, to a lesser extent, web video activity. Despite this, Perion's CEO emphasized the company's strong relationship with Microsoft, its diversified digital advertising solutions, and the growth in Display Advertising. Perion also increased its buyback program from $50M to $75M.