- Perion Network Ltd (NASDAQ:PERI) reported second-quarter FY22 revenue growth of 34% year-on-year to $146.7 million, beating the consensus of $146.3 million.
- Display Advertising revenues rose 41% Y/Y to $81.6 million, primarily from video and CTV revenue growth.
- Search Advertising revenue increased 26% Y/Y to $65.1 million, primarily due to a 42% increase in average RPM and a 33% increase in the number of publishers.
- Non-GAAP EPS of $0.51 beat the consensus of $0.32.
- Adjusted EBITDA margin expanded to 47% of revenue excluding traffic acquisitions costs compared to 33% last year. The margin expanded due to the continuous improvement of iHub.
- Perion Network generated $25.7 million in operating cash flow and held $353 million in cash and equivalents.
- Outlook: Perion reiterated the FY22 revenue outlook of $620 million – $640 million versus the consensus of $627 million.
- Price Action: PERI shares traded higher by 5.29% at $20.50 in the premarket session on the last check Wednesday.
Why JD.Com Stock Is Falling
JD.Com Inc (NASDAQ: JD) shares are trading lower by 2.42% to $35.87 during Tuesday's session. Shares of several Chinese companies are trading lower following weak industrial production and retail sales data for July.
