September 22, 2008 / 11:18 AM / 11 years ago

Opera says revenue growth beats projection

BEIJING, Sept 22 (Reuters) - Norwegian Internet browser maker Opera Software OPERA.OL said on Monday its revenue growth rate so far this year is slightly higher than its previous forecast, and is seeing a positive impact from a rival’s new product.

The Oslo-listed company has enjoyed global revenue growth of more than 50 percent so far this year, thanks to people’s rising need to surf the Web with wireless devices. The firm had said it was targeting revenue growth of 48 pct in 2008.

“We believe that all devices in the future that have any reason to be connected to the Internet will be connected to the Internet,” said Opera Chief Executive Jon S.von Tetzchner.

Competition in the browser market has escalated lately after Google Inc (GOOG.O) launched its own internet browser, Chrome, in early September, a head-on challenge to market leader Microsoft Corp’s (MSFT.O) Internet Explorer.

Opera, a small rival to both, is taking advantage of Google’s new browser to raise user awareness of other web-surfing software and increase its number of downloads, Tetzchner said.

“The overall effect for us is positive, because more people look at alternatives,” he said.

Oslo-based Opera, which makes browsers for cellphones and other mobile gadgets as well as for desktop computers, earns money from licensing its software to mobile phone and other equipment manufacturers. (Reporting by Michael Wei; Editing by Sophie Taylor and Quentin Bryar)

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