User Base Expansion Drives Opera’s Revenue Growth
Opera (NASDAQ:OPRA), an artificial intelligence powered search engine company announced a 61 percent year-over-year increase in its Opera News segment. Its second quarter financial report also signaled that is growing user base is accelerating revenues, with figures reaching US$61.7 million for the quarter, rising 55 percent compared to the same time last year. As quoted … Continued
Opera (NASDAQ:OPRA), an artificial intelligence powered search engine company announced a 61 percent year-over-year increase in its Opera News segment. Its second quarter financial report also signaled that is growing user base is accelerating revenues, with figures reaching US$61.7 million for the quarter, rising 55 percent compared to the same time last year.
As quoted in the press release:
“Opera News continues to scale rapidly and we have ambitions to drive the user base well beyond current levels. This past quarter, Opera News grew 61% year-over-year to 163 million monthly active users and the news app increased over 3.5x year-over-year to 37 million MAUs. In fact, Sensor Tower recently identified Opera News as the top downloaded global news app in the second quarter. We also launched Opera Ads to monetize our large user base. Early results are promising, with revenue on our news app more than doubling versus the prior quarter, which supported the year-over-year growth acceleration of our advertising revenue.
“We also announced that we’re expanding Opera Ads beyond large advertisers to include a focus on small and medium sized enterprises. Specifically, we’ve launched a classifieds product called OList that will incorporate different verticals including used cars, real estate and jobs. This will enable us to meaningfully increase our total addressable advertising market in Africa and provide another reason for users to use Opera News or one of our browsers more frequently. The product recently launched in Nigeria and we look forward to updating you on its progress.
