Stock of Perion Network Ltd. (PERI) is dropping over 36 percent on Monday morning, following a decline in the company's revenue outlook for fiscal year of 2024, primarily due to drop in Search Advertising and a limited extent to the web video activity.
The media company now expects revenue in the range of $590-$610 million compared to the previous estimation of $860-$880 million, while it estimates adjusted EBITDA of $78- $82 million instead of $178-$182 million.
Additionally, the company announced preliminary financial result for first-quarter, which revealed a decline in adjusted EBITDA to $20 million from last year's $31.3 million, whereas revenue increased to $157 million from last year's $145.2 million.
However, analysts, on average, polled by Thomson Reuters estimated revenue of $ 175.53 million for the same quarter.
Currently, Perion's stock is tanking 36.08 percent, to $13.50 on the Nasdaq.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.