Opera Announces 30 Percent Revenue Gains in First Quarter

Opera (NASDAQ:OPRA), a digital content company driven by artificial-intelligence (AI) announced its first quarter financial results. Founded in 1995 in Norway, the company reported a 30 percent increase in revenue, totalling US$51.3 million year-over-year. The company reported US$11 million adjusted EBITDA for the quarter and over 150 million monthly active users on Opera News.

As quoted in the press release:

“We continue to prioritize growing our Opera News user base, both through our browser offerings and the dedicated Opera News app. This quarter, we reached 150 million monthly active users for Opera News and our dedicated app exceeded 30 million monthly active users, which represented 62% growth versus the prior quarter. These strong results were underpinned by product improvements and expanding local AI assisted editorial teams to new geographies, from an initial focus on Nigeria, Kenya and South Africa, to the Ivory Coast to better serve French speaking African countries, as well as Egypt for North Africa. We have also expanded our presence in India and Indonesia successfully following the same model. Moreover, we have initiated additional marketing efforts, including TV campaigns now running in Africa to bolster our strong momentum and help us build Opera News into a large contributor to both revenue and profit over the next several years, especially as monetization builds.

Click here to read the full press release.