OPRA - Why Opera Stock Is Plummeting Today
2023-08-24 12:21:53 ET
Opera (NASDAQ: OPRA) stock is sinking today despite the company recently reporting better-than-expected second-quarter results. The technology conglomerate's share price was down 15.8% as of noon ET, according to data from S&P Global Market Intelligence . Meanwhile, the S&P 500 index was down 0.8%, and the Nasdaq Composite index's level had fallen 1.3%.
Opera published its Q2 results before the market opened this morning and posted earnings of $0.15 per share on sales of $94.13 million. For comparison, the average analyst estimate had called for the company to post per-share earnings of $0.12 on revenue of $91.66 million.
In addition to the market generally facing some bearish pressures today, investors appear to be reacting negatively to a decline in Opera's monthly active users (MAUs) in Q2. The company ended the quarter with 319 million active users, down from the 316 million MAUs it had at the end of the first quarter.
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Why Opera Stock Is Plummeting Today