Opera Earnings Jump On Mobile Browser Success (OPERA.OL)

Norway-based browser-maker Opera Software (OPERA.OL) stock jumped 11% today after the company beat estimates for Q3 earnings.

Opera only commands 0.7% of the desktop browser market — already trailing the much-newer Google (GOOG) Chrome — which has 0.8%. But that’s not where the revenue comes from: Opera is reporting strong growth in licence revenues for its Opera Mini mobile browser.

Bloomberg: Shares climbed as much as 1.9 kroner, or 11 per cent, to 18.5 kroner, and were at 18.2 kroner as of 9:31 a.m. local time, the highest intraday level since Sept. 12, valuing the company at 2.2 billion kroner ($310 million).

Net income for the three months ended Sept. 31 rose to 33.3 million kroner [$4.7 million] from 4.65 million kroner a year earlier, Opera reported to the Oslo stock exchange. Analysts on average had estimated profit at 15.5 million kroner.

See Also:
Opera’s New Mobile Web Browser Now Available: Good News For Carriers
Why Firefox Is Thinking Small: Mobile Browser Market To Explode

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