OPERA LIMITED Reports Financial Results for 2nd Quarter of FY2023
August 31, 2023
🌧️Earnings Overview
On August 24 2023, OPERA LIMITED ($NASDAQ:OPRA) reported their financial results for the second quarter of FY2023, ending June 30 2023. Total revenue rose by 20.9% from the same period the year before, amounting to USD 94.1 million. Furthermore, net income for Q2 was USD 13.5 million, a vast improvement compared to the -5.8 million registered during the same quarter of the previous year.
Price History
On Thursday, OPERA LIMITED released its financial report for the second quarter of fiscal year 2023. The results were not as expected and the stock opened at $14.1 before closing at $12.8, a plunge of 15.3% from the previous day’s closing price of 15.1. The company also said that they would be investing in research and development to create new products and services, which they believe will help bolster their financial performance over the long term. Investors will be watching closely to see how these efforts pay off in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Opera Limited. More…
| Total Revenues | Net Income | Net Margin |
| 362.81 | 59.32 | 21.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Opera Limited. More…
| Operations | Investing | Financing |
| 82.82 | 32.2 | -155.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Opera Limited. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 908.54 | 92.05 | 9.08 |
Key Ratios Snapshot
Some of the financial key ratios for Opera Limited are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.5% | 199.7% | 12.0% |
| FCF Margin | ROE | ROA |
| 20.9% | 3.3% | 3.0% |
Analysis
At GoodWhale, we conducted a comprehensive analysis of OPERA LIMITED‘s financials. Our Risk Rating concluded that OPERA LIMITED is a medium risk investment, taking into account both financial and business aspects. After close inspection, our team detected two risk warnings in the income sheet and balance sheet. If you’d like to unpack the financials further, register on goodwhale.com to take a closer look. We are also available to answer any questions you may have. More…
Peers
The competition between Opera Ltd and its competitors, Cyber Apps World Inc, Just Dial Ltd, and I-Freek Mobile Inc, has become increasingly intense in the mobile industry. Each of these companies are vying to be the top mobile service provider, offering new features and services to their customers in order to gain an edge over their rivals. The competition is fierce and only time will tell who will come out on top.
– Cyber Apps World Inc ($BSE:535648)
Just Dial Ltd is a leading Indian search engine and business listings provider, offering a range of services including classified advertisements, local search, and business listings. As of 2022, Just Dial Ltd has a market cap of 49.73B, indicating the company’s strong financial health and presence in the local search market. The company’s Return on Equity (ROE) is also impressive at 1.0%, demonstrating its ability to generate value for its shareholders.
– Just Dial Ltd ($TSE:3845)
I-Freek Mobile Inc is a telecommunications and technology company that specializes in mobile devices and services. As of 2022, the company has a market cap of 2.43 billion and a Return on Equity of 16.24%. This market cap suggests that I-Freek is a well-established and successful business. The Return on Equity of 16.24% indicates that the company is using its assets efficiently to generate profits that are then reinvested into the company. This suggests that I-Freek Mobile Inc is able to generate strong returns for its shareholders.
Summary
Investors should take note of OPERA LIMITED‘s recent financial performance for the second quarter of FY2023. Revenue for the period was USD 94.1 million, a 20.9% jump from the prior year, while net income was USD 13.5 million, an impressive surge from the negative figure of -5.8 million reported last year. Despite this strong performance, however, investors reacted negatively to the news, with the stock price falling on the day of the announcement. Overall, while the current quarterly results are positive, investors should keep an eye on any future developments in order to better assess the company’s financial health and future prospects.
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