Advertising technology company, Perion Network (NASDAQ: PERI) gained in pre-market trading at the time of writing on Thursday after the company announced preliminary results for the second quarter. The company expects its revenues to rise by 20% year-over-year to $176 million, exceeding consensus estimates of $169.74 million. Adjusted EBITDA is projected to grow by 40% year-over-year to $40 million in the second quarter of FY23.
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Perion expects to announce its Q2 results on August 2.
Tal Jacobson, Perion’s CEO commented, “The strength of our second quarter results reflects continued momentum of the business. Both the second quarter and first six months highlight the power of our executional agility, underlying technological innovation and market fit. Our diversified and scalable business model has allowed us to capitalize on recent positive market indications, resulting in improved margins and market share gains.”
Analysts are bullish about PERI stock with a Strong Buy consensus rating based on four Buys and one Hold.
