Perion Network Ltd. (PERI) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line came in at $11.77 million, or $0.24 per share. This compares with $23.79 million, or $0.48 per share, in last year's first quarter.
Excluding items, Perion Network Ltd. reported adjusted earnings of $22.56 million or $0.44 per share for the period.
Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 8.7% to $157.82 million from $145.15 million last year.
Perion Network Ltd. earnings at a glance (GAAP) :
-Earnings (Q1): $11.77 Mln. vs. $23.79 Mln. last year.
-EPS (Q1): $0.24 vs. $0.48 last year.
-Revenue (Q1): $157.82 Mln vs. $145.15 Mln last year.
-Guidance:
Next quarter revenue guidance: $118 Mln-$122 Mln
Full year revenue guidance: $590 Mln-$610 Mln
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