Perion Network Ltd (NASDAQ:PERI) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 9.96%.
Perion Network Ltd Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.26 in the quarter versus EPS of $ in the year-earlier quarter.
Revenue: Rose 103.67% to $24.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Perion Network Ltd reported adjusted EPS income of $0.26 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $0.
Quoting Management: Josef Mandelbaum, Perion’s CEO, commented: “We had strong results in the second quarter and a record first half of 2013. We nearly doubled revenues and profits in the second quarter compared to last year and generated $6.8 million in cash flow from operations. In the first half of the year we also signed a renewal with Google and two new search agreements with Bing and Ask.com. In addition, earlier today we announced a partnership with Yahoo!, and I am also pleased to announce today that we have signed and launched a search distribution partnership with Conduit, expanding our search partners to five.”
Key Stats (on next page)…
Revenue decreased 11.53% from $27.58 million in the previous quarter. EPS increased to $0.26 in the quarter versus EPS of $ in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate is a loss of $0, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)