Perion Network Ltd (PERI) has released an update.
Perion Network Ltd has reported a preliminary Q1 2024 revenue of $157 million, up 8% from the previous year, but expects a 36% decrease in adjusted EBITDA at $20 million due to changes in Microsoft Bing’s search advertising pricing. Despite a challenging quarter in search volume, the company remains optimistic about its diverse digital advertising strategies and has increased its share buyback program from $50 million to $75 million. The full 2024 financial forecast anticipates revenues between $590 to $610 million and adjusted EBITDA from $78 to $82 million.
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