Perion Network: Q1 Earnings Snapshot
HOLON, Israel (AP) _ Perion Network Ltd. (PERI) on Tuesday reported first-quarter profit of $3.3 million.
The Holon, Israel-based company said it had profit of 9 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The digital media company posted revenue of $89.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $85.9 million.
Perion Network expects full-year revenue in the range of $390 million to $410 million.
Perion Network shares have increased 38% since the beginning of the year. The stock has nearly quadrupled in the last 12 months.