OPRA - Why Opera Stock Is Climbing Today
2023-10-26 14:29:16 ET
Opera Limited (NASDAQ: OPRA) just reported strong financial results for the third quarter, sending the stock up 5.5% as of 1:19 p.m. ET on Thursday. The company said revenue rose 20% year over year. Surging momentum led management to raise its full-year outlook.
The stock had sold off over the past year, so investors didn't have high expectations heading into the quarterly update. The shares trade at a modest valuation on a price-to-earnings basis and offer attractive upside from these levels.
It's not easy to find fast-growing companies in this macroeconomic environment that are reporting balanced growth in revenue and profits. Opera's advertising revenue now makes up 59% of the business. The company is leveraging its expenses to expand margins and increase earnings per share .
For further details see:
Why Opera Stock Is Climbing Today