Why Is Perion Network (PERI) Stock Down 39% Today?

Perion Network (NASDAQ:PERI) stock is falling on Monday following the release of its preliminary Q1 earnings results.The digital advertising solutions company expects revenue for the quarter to come in at $157 million. That is well below Wall Street’s revenue estimate of $175.53 for the quarter. Even if it’s an 8% increase year-over-year from $145.2 million.Perion Network notes that it revenue was harmed by changes to the Search Distribution marketplace of Microsoft’s (NASDAQ:MSFT) Bing. That resulted in a ...