Opera says on track for 2015 sales of $500 mln

OSLO Tue Feb 11, 2014 2:17am EST

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OSLO Feb 11 (Reuters) - Norwegian software developer Opera is on track to meet its long-held 2015 sales target of $500 million and core earnings of $150 million, the company said on Tuesday as it presented fourth-quarter earnings.

Analyst in a Reuters poll on average expected next year's revenues to hit $487 million and adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $159 million.

The company's forecasts for 2014 were also broadly in line with analyst expectations.

"Opera expects to generate solid revenue growth from its mobile consumer user base in 2014 versus 2013 due to much larger mobile advertising revenue streams in particular from its owned and operated mobile properties, such as the Smartpage and the Opera Mobile Store," the company said.

Fourth-quarter 2013 revenues totalled $89.6 million, beating the predictions from all eight analysts in the Reuters poll, which had an average expectation of $86.1 million.

Adjusted EBITDA for the period was exactly in line with forecasts, at $24 million, while operating profit (EBIT) was marginally lower. (Reporting by Terje Solsvik)

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