Opera secures Google search deal extension through 2025

OSLO - Opera Limited (NASDAQ: NASDAQ:OPRA), a prominent browser developer, has announced the extension of its search distribution agreement with Google (NASDAQ:GOOGL). The current deal, covering the years 2022 to 2024, now includes an extension through 2025, as Google has opted to continue the collaboration under the same terms.

This extension reflects a pattern established in the previous agreement, which spanned from 2018 to 2020 and was also extended by one year.

Opera has maintained a partnership with Google for search distribution since 2001, signifying a long-term relationship between the two technology companies. This extension indicates a sustained commitment from Google to utilize Opera's browser platform as a conduit for its search engine services.

The extension of the agreement is expected to provide Opera with continued revenue from Google, although specific financial terms of the deal were not disclosed. For investors, this development represents stability in Opera's business model, with the extension likely contributing to the company's financial performance over the next few years.

Opera, founded in 1995 and headquartered in Oslo, Norway, is known for its user-centric and innovative approach to web browsing. The company's browsers are used by hundreds of millions of people worldwide, who value the unique and secure features available on both mobile phones and desktop computers.

The information for this article is based on a press release statement from Opera Limited.

Following the announcement of Opera Limited's (NASDAQ: OPRA) extended search distribution agreement with Google, investors may be interested in the recent financial health and stock performance of the company.

Opera has shown a strong financial position with a market capitalization of $1.36 billion USD and a notable P/E ratio of 17.49, reflecting investor confidence in the company's earnings potential. Additionally, the company has experienced a significant revenue growth of 19.87% over the last twelve months as of Q4 2023.

InvestingPro Tips indicate that Opera holds more cash than debt on its balance sheet, providing a solid liquidity position that can reassure investors of the company's financial stability. Moreover, the company's liquid assets exceed short-term obligations, further underscoring its ability to meet its immediate financial commitments.

With analysts revising their earnings upwards for the upcoming period and predicting profitability for the year, the extension of the Google agreement could contribute positively to Opera's performance.

For those looking to delve deeper into Opera's financial metrics and stock performance, InvestingPro offers additional tips. There are currently 11 more detailed InvestingPro Tips available at https://www.investing.com/pro/OPRA, which could provide valuable insights for investors. To access these insights and more, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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With a strong return of 55.08% over the past year and analysts' fair value estimates hovering around $20.50 to $20.61 USD, Opera's stock appears to be on a promising trajectory. The next earnings date is set for April 25, 2024, which investors will likely watch closely for further indications of the company's financial performance and outlook.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.