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Perion Network reverses gains on Q2 miss, light guidance

  • Up in premarket trading thanks to its Yahoo search deal, Perion Network (PERI -12.9%) is now tumbling due to its Q2 miss.
  • Although revenue grew 99% Y/Y in Q2, growth slowed from a torrid Q1 rate of 145%.
  • CEO Josef Mandelbaum says Perion's efforts to diversify its toolbar search partner base beyond Google - in addition to Yahoo, deals have been signed with Bing and Ask.com - have taken longer than expected, hurting Q2 revenue and leading revenue expected in Q3 to be pushed out to Q4. (PR)
  • Perion expects Q3 revenue to fall to $20M-$22M (~30% Y/Y growth) from Q2's $24.4M.
Comments (1)
  • urbanlegion
    , contributor
    Comments (3) | Send Message
     
    and now up 6.92%? Any insights would be appreciated..
    13 Aug 2013, 04:07 PM Reply Like
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