Perion Network Earnings: Here’s Why the Stock is Rising Now
Perion Network (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 up 14.84%.
Perion Network Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.45 in the quarter versus EPS of $ in the year-earlier quarter.
Revenue: Rose 158.91% to $27.6 million from the year-earlier quarter.
Quoting Management: Josef Mandelbaum, Perion’s CEO commented: “The first quarter of 2013 was an extraordinary start for Perion. We had record organic and total revenue growth, increased profitability, strong cash generation, enthusiastic acceptance of our new Incredimail for iPad product and the successful integration of SweetPacks. Perion is hitting on all cylinders, and delivering impressive results against each of its operational and financial metrics. We have good visibility for the rest of the year and are well on our way to achieving, and likely exceeding, our guidance of 80%-plus growth.”
Key Stats (on next page)…
Revenue increased 29.15% from $21.37 million in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)