Opera Limited (Nasdaq: OPRA) announced that it expects the results to exceed the top-end guidance in the fourth quarter of 2020.
The China-backed Norwegian company set guidance for fourth-quarter revenue in the range of between $45 million and $47 million in the last earnings report.
“The fourth quarter was a strong end to 2020. We continued to exceed our expectations both on users and monetization, leading to a significant acceleration in our year-over-year search & advertising growth rates,” said Song Lin, the co-chief executive officer of Opera.
Lin added, “Further, execution in our core business is expected to drive accelerating year-over-year growth rates in 2021 before factoring in any potential from our new initiatives.”
According to the market research firm, International Data Corporation ( IDC), due to the effect of the pandemic, has significantly increased in popularity.
In the fourth quarter, IDC expects global PC shipments to increase by 26.1% year-on-year to 91.6 million units. As the work from home trend continues, Opera stands to benefit.
Shares of Opera closed at $9.38, up 1.19%.