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.