Today, Opera Software reported third quarter earnings, showing strong revenue growth from Opera Mediaworks, the mobile advertising subsidiary.
Some highlights from the earnings report that went out today:
- Opera reported Q3 revenues of $138.8 million, up 84% from Q3 2013
- Adjusted EBITDA* of $33.9 million, up 51% from Q3 2013
In Q3, the Opera Mediaworks business became the largest independent mobile ad platform globally, as measured by reported revenue. The Opera Mediaworks business showed revenues of $86.9 million in Q3, up 193% compared to the same time last year.
Last quarter, revenues from Opera Mediaworks surpassed Opera’s overall revenues by 50 percent. In Q3, they were well above 60 percent of the company’s overall revenues. In stark contrast to the scaled businesses in the mobile ad tech space, the Opera Mediaworks business generates healthy operating income.
Total mobile advertising impressions now managed by the Opera Mediaworks platform are 187.5 billion – up 9% compared to Q3 2013. This revenue growth was driven primarily by increased revenue from premium and performance advertisers and “app install” driven spend from primarily the mobile gaming sector.
In Q3, Opera Mediaworks also closed the acquisition of AdColony and saw a very strong contribution from the company in Q3 earnings. Opera Mediaworks made a strong bet on mobile video advertising by acquiring AdColony, and today, close to half of Opera Mediaworks’ revenues come from mobile video.
One in 10 mobile ads in the United States today is video, as reported by our Q3 State of Mobile Advertising report, and that trend is only growing as we move toward the magical impact of video on consumers through sight, sound and motion.
AdColony excels in delivering innovative, TV-like crystal-clear video ads instantly in HD across the most popular iOS and Android smartphone and tablet apps in the world.
Together with AdColony, the Opera Mediaworks’ mobile advertising platform now reaches more than 800 million consumers globally. When combined with the Opera owned and operated properties, Opera Mediaworks has a reach of 1 billion consumers.
“We are proud to report yet another successful quarter with record revenues,” said Mahi de Silva, CEO, Opera Mediaworks. “Our Q3 results and the addition of AdColony, positions us the no.1 independent mobile ad platform globally. While generating record revenues, we are also delivering very healthy profits, in sharp contrast to other mobile ad tech companies.”
You can read more about Opera’s Q3 results here.
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