OPRA - Why Opera Limited Stock Rebounded 18% This Week
2023-08-31 18:40:49 ET
Shares of Opera Limited (NASDAQ: OPRA) are up 18% so far this week as of Thursday's market close, according to data provided by S&P Global Market Intelligence . The stock appears to be rebounding along with the broader market after the internet browser provider fell hard last week despite posting strong second-quarter results.
For perspective, Opera stock fell 15% in a single session last Thursday even after the company posted quarterly results that handily exceeded expectations.
Quarterly revenue grew 21% year over year to $94.1 million -- above analysts' consensus estimates for revenue of $91.7 million -- while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed 24% to $20.5 million. Both figures were also well above Opera's own guidance, which had called for revenue of $92 million to $94 million and adjusted EBITDA of between $18 million and $20 million.
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Why Opera Limited Stock Rebounded 18% This Week