Benzinga | Aug 12, 2021 05:13PM EDT

How Was Opera's Q2 Earnings Report?

* Opera Ltd (NASDAQ:OPRA) reported second-quarter FY21 revenue growth of 86.7% year-on-year to $60.16 million, beating the analyst consensus of $54.84 million.

* Search revenue increased by 69% Y/Y to $29.8 million, driven by PC and mobile browser monetization growth.

* Advertising revenue rose 128% Y/Y to $28.9 million from monetization growth within Opera News and mobile browsers.

* Technology licensing and other revenue was $1.4 million due to the phasing out low-margin professional services for an investee.

* Opera reached 78 million average monthly PC users, up 4% Y/Y.

* The Opera GX browser user base now has 10 million users on desktop and already exceeds one million on mobile.

* It announced over 1 billion cumulative downloads on the Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Play Store.

* Opera News revenue grew 442% Y/Y. Operating expenses surged 77% Y/Y due to higher marketing and personnel expenses.

* It reported an adjusted EBITDA margin loss of (1.7)%.

* Adjusted EPS of $0.42 beat the analyst consensus of $0.03.

* Opera held $201.3 million in cash and equivalents and generated $6.3 million in operating cash flow.

* Opera is well underway to seize both content and news and gaming opportunities and expand to higher monetizing regions.

* Outlook: Opera expects Q3 revenue of $63 million - $65 million, above the analyst consensus of $61.66 million.

* It sees FY21 revenue of $242 million - $247 million above the analyst consensus of $237.2 million.

* Price Action: OPRA shares closed lower by 0.52% at $9.50 on Thursday.