Perion Network Stock Jumps On Q1 Earnings Beat, Raised FY21 Guidance

  • Perion Network Ltd PERI reported first-quarter FY21 revenue growth of 36% year-on-year to $89.8 million, beating analyst consensus of $86.18 million.
  • Display and Social Advertising revenues rose 61% to $38.1 million, while Search Advertising and other revenues rose 22% to $51.7 million.
  • Average daily searches rose 45% to 17.7 million. CTV solution helped grow the average deal size by 11%.
  • Non-GAAP net income rose 41% to $7 million, and the Non-GAAP EPS of $0.19 beat analyst consensus of $0.14.
  • Adjusted EBITDA rose 41% to $8.8 million, signifying a 100 basis points margin expansion to 10%.
  • The company generated $13.5 million in operating cash flow, and it held $128 million in cash and equivalents.
  • Guidance: Perion raised FY21 revenue outlook from $370 million to $380 million range previously, to $390 million to $410 million, higher the analyst consensus of $375.56 million. Adjusted EBITDA guidance was raised from the previous $37 million to $38 million prior, to $39 million to $41 million.
  • Price action: PERI shares traded higher by 2.16% at $18 in the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!