Opera shares fell 6.3% after the quarter as investors reacted negatively to a cautious outlook and signs of deceleration in key metrics, despite what management described as outperformance.
- Revenue grew 25% year-over-year to $178 million, surpassing the typical seasonal peak early.
- Advertising revenue increased 27% to $115 million, led by e-commerce, while query revenue grew 21% to $62 million.
- Adjusted EBITDA reached a quarterly record of $42.4 million, representing a 24% margin and 32% year-over-year growth.
- Management raised full-year guidance but signaled a cautious outlook amidst evolving market dynamics.
- Growth in AI-driven query revenue, particularly in Western markets, showed promise but may not fully offset concerns about deceleration and margin pressures.
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