Opera ( NASDAQ: OPRA ) +16% after adjusted EPADS and revenue beat consensus .
Revenue was up 33% Y/Y to $96.3M led by 12% growth in search revenue and 55% increase in advertising revenue.
The growth of PC footprint in western markets, particularly in North America led to 12% increase in search revenue to $39M.
Advertising revenue increased by 55% to $56.8M, benefiting from the audience extension supported by Opera Ads platform along with the growth in western PC footprint.
Q4 Opera GX gaming browser MAU's increased by 11% to more than 20M, bringing the total user base increased to 324M.
Q4 ARPU was $1.18 on an annualized basis, up 12% sequentially and up 42% from the prior year quarter.
During Q4, the company repurchased 23.4M ADS for $128.6M, or $5.50 per ADS from a pre-IPO shareholder and 0.6M ADSs at an average price of $5.14, for a total of $3.2M, leaving $32.7M or 65% of existing buyback authorization remaining.
The company announced a special dividend of $0.80 per ADS in January.
Guidance: For Q1, the company expects revenue of $83M to $85M ($81.5M consensus) on the back of greater seasonality as advertising revenue has increased at a great pace. Adjusted EBITDA is expected to be between $17 million and $19 million, representing a 21% margin at the midpoint.
For FY23, the company guides revenue of $370M - $390M vs. $379.26M consensus. Adjusted EBITDA to be between $71M and $81M, or a 20% margin at the midpoints.
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Opera gains 16% on earnings beat as MAU and ARPU drive growth, issues strong Q1 and FY23 guidance