OSLO, Norway, Aug. 7, 2024 /PRNewswire/ -- Opera Limited (NASDAQ: OPRA), one of the world's major browser developers and a leading internet consumer brand, announced today that the company's second quarter 2024 financial results will be released before the market opens on Thursday, August 22, 2024. The earnings release will be available on the investor relations section of our website at https://investor.opera.com. Management will host a conference call to discuss the second quarter 2024 financial results o ...

Core Viewpoint - Opera Limited's recent financial performance shows strong revenue growth and cash flow generation, despite a decline in net income due to increased capital expenditures and lower interest income [2][6][22]. Financial Performance - In Q1 FY2024, Opera reported consolidated sales of nearly $102 million, reflecting a 17% year-over-year increase [6]. - The company's EBIT surged by 40.3% year-over-year to $19.6 million, achieving a 19% margin [6]. - Operating cash flow reached $31.0 million, sufficient to cover dividends and capital expenditures, resulting in a cash position of $91.3 million [2]. User Growth and Market Position - Opera has 304 million monthly active users (MAUs), representing about 8% of global internet users, with a growing segment of high ARPU users in North America, Europe, and Latin America [2][7]. - The Opera GX gaming browser saw a 6% quarter-over-quarter increase in MAUs, reaching 29.5 million [2]. Strategic Initiatives - The company has invested $20.2 million in a new AI data cluster in Iceland, which is now operational and expected to support future sales expansion [2][7]. - Opera's management focuses on quality user growth, targeting high-ARPU markets, which is expected to enhance operating leverage [7]. Revenue Guidance and Future Outlook - For Q2 FY2024, Opera expects revenue between $107 million and $109 million, indicating a year-over-year growth of 14-16% [7]. - The company raised its FY2024 revenue guidance to a range of $454 million to $465 million, while maintaining an EBITDA forecast of $106 million to $110 million [7]. Valuation and Market Sentiment - Opera's market cap is just over $1 billion, with the company generating over 10% of its market cap in revenue in a single quarter [8]. - The stock is considered undervalued, with a P/E ratio significantly lower than sector averages, suggesting potential for price appreciation [8][9]. Risks and Considerations - The current search distribution agreement with Google has been extended until 2025, which is crucial for Opera's revenue stream [8][11]. - Concerns exist regarding the potential need to renegotiate this agreement under less favorable terms in the future [11].

OSLO, Norway, July 1, 2024 /PRNewswire/ -- Opera GX, the browser for gamers, is bringing a significant update to the browser's built-in AI, Aria. This update provides users with the latest AI features that Opera [NASDAQ: OPRA] has been releasing as part of their experimental AI Feature Drops program in the Developer stream of the Opera One browser. The features that are arriving to Opera GX increase Aria's capabilities by introducing image generation and understanding, voice output, a chat summary option, a ...

We previously covered Opera Limited (NASDAQ:OPRA) in March 2024, discussing why we had maintained our Buy rating, as the management increasingly monetized its gaming platform, advertising, and search engine capabilities. Combined with the management's use of robust cash flow for shareholder returns, we believed that it continued to offer both value and growth opportunities at current levels. Since then, OPRA has retraced by -9.4% well underperforming the wider market at +6%, or rallied by +28.2% from our pr ...

The aggregate amount of the dividend is approximately $35.4 million, based on a total of 88.5 million ADS equivalents outstanding. Opera's cash expense will be approximately $27.6 million. The remaining $7.8 million will be offset against Opera's remaining receivable from our majority shareholder, Kunlun Tech Limited ("Kunlun") in connection with the 2022 sale of Opera's stake in Star Group Interactive Inc. This press release contains statements of a forward-looking nature. These statements, including state ...

Shares of Opera Limited (OPRA 10.25%), an internet browser company, were soaring today on speculation that the company might be involved in Apple's Worldwide Developers Conference (WWDC) today. Some investors were discussing the idea on X, formerly known as Twitter, earlier in the day, though there was no indication by either company that a collaboration was forthcoming. Apple's event came and went without any mention of Opera. Opera is getting a lot AI attention Just last week, Opera announced an artificia ...

Used by 90% of internet users worldwide, emojis have become an essential part of how people express themselves online. It has also been shown that using a diverse set of emojis improves people's life satisfaction. Users can quickly identify and decorate their tabs by assigning emojis to them by hovering over any tab and then accessing a menu of five pre-selected emojis. They can also explore a vast collection of over a thousand options with the '+' button. Emojis can be easily changed or removed the same wa ...

Core Insights - Opera is set to enhance its flagship browser, Opera One, and gaming browser, Opera GX, by integrating new on-device AI capabilities, transitioning from experimental to mainstream use [1][2] - The company has already introduced support for over 2000 local LLM variants, making it the first major browser to offer such features [3] Group 1: On-Device AI Development - Opera became the first browser to support on-device AI in April 2024, allowing users to access local LLMs directly within the application [1][3] - The transition of on-device AI from the Opera Developer testbed to the flagship browser signifies a major step in the company's AI Feature Drops Program [2][4] Group 2: New Features and User Experience - The latest update includes an Image Understanding feature, enabling users to upload images and receive contextual information from the AI [5] - This enhancement aims to improve user interaction while maintaining privacy by minimizing data transfer to external servers [4] Group 3: Strategic Investments and Collaborations - Opera has invested in a powerful AI data cluster in Iceland, utilizing NVIDIA H100 cards, which is recognized as the 88th most powerful supercomputer globally and operates on green energy [6] - A collaboration with Google Cloud has been announced to integrate Gemini models into Opera's Aria browser AI, further enhancing its AI capabilities [6]

The company inked a high-profile deal with Alphabet to deploy its Gemini large language model on the Opera browser AI platform. Shares of internet browser company Opera Limited (OPRA 5.53%) rallied on Tuesday, rising 5.5% during the day's session. Opera is a unique tech software company spending big on artificial intelligence (AI) that actually trades at a bargain valuation of just 8.6 times earnings. While Opera reported relatively solid results last quarter, the stock ultimately fell on the back of hefty ...

The average comprises three short-term price targets ranging from a low of $22 to a high of $25, with a standard deviation of $1.73. While the lowest estimate indicates an increase of 58.1% from the current price level, the most optimistic estimate points to a 79.6% upside. More than the range, one should note the standard deviation here, as it helps understand the variability of the estimates. The smaller the standard deviation, the greater the agreement among analysts. While the consensus price target is ...