Opera loss widens as sales grow less than expected

Wednesday 31 August 2016 | 10:01 CET | News
Opera Software reported second-quarter revenue up 11 percent year-on-year to USD 162.9 million, less than its forecast for USD 166-174 million. Adjusted EBITDA fell to USD 20.3 million from USD 29.5 million, at the low end of its guided range. The net loss widened to USD 5.3 million from USD 1.3 million a year ago, and free cash flow dropped to USD 0.3 million from USD 25.5 million. Opera ended the period with cash of USD 117.3 million, and said it had drawn all of its increased credit facility of USD 285 million. Opera maintained its outlook for the full year and issued a new forecast

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Categories: Internet / Mobile & Wireless
Companies: Opera Software
Countries: World
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