Perion Network lowers Q2 and FY24 financial guidance due to changes in Microsoft's Bing advertising pricing and decline in revenue from standard video and display formats.
Perion Network reported Q1 2024 revenues of $157.82M, beating estimates, with increased daily searches and retail media revenue. Adjusted EPS was $0.44. Q2 revenue expected at $118M-$122M, FY2024 revenue expected at $590M-$610M.
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, with the index remaining in the "Greed" zone on Monday.
U.S. stocks closed little changed on Monday, ahead of key inflation data. Data on consumer and producer price indexes for March will be released this week.