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BRIEF-Opera Software warns on 2017 earnings as AdColony unit lags
August 24, 2017 / 5:24 AM / 3 months ago

BRIEF-Opera Software warns on 2017 earnings as AdColony unit lags

Aug 24 (Reuters) - Opera Software Asa

* q2 revenues $109.9 million (Reuters poll $117 million)

* q2 adjusted ebitda $3.1 million (Reuters poll $5.4 million)

* Ramp in AdColony revenue slower than earlier expected

* Overall, we expect to be below the guidance we put out in the beginning of the year

* Speed of transformation to more programmatic revenue streams for AdColony makes predictability lower on revenue and margin, thus we decided not to guide for the the remainder of the year

* All 4 companies expected to be profitable (adjusted ebitda) in 2h17

* Cost base reduced by over $30m ($25m adcolony & $5m skyfire) entering 2h17 versus entering 1h17

* For AdColony the focus now is to grow month over month and week over week as well at getting new products to market that accelerates the revenue growth

* Expects adcolony business to generate revenue growth in h2 2017 versus h1 2017

* Expects to see revenue growth in Bemobi in 2017 versus 2016, as Bemobi takes the success in Brazil to a global arena

* Expects to see strong growth in Surfeasy in 2017 versus 2016

* Aims to make Skyfire profitable in 2017Source text for Eikon: Further company coverage: (Reporting By Joachim Dagenborg)

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