Perion Network Stock Plummets Over 40% on Q1 Revenue Miss
On Perion's Slow Start to the New Year
In a press release, Perion announced lower-than-expected first-quarter 2024 revenue and a significant drop in adjusted EBITDA, attributing the underperformance to Microsoft Bing's advertising changes.
What's Next for Perion Network Investors?
Perion also revised down its full-year revenue and EBITDA guidance for 2024, leading to a massive decline in stock value and a $25 million increase in share buyback authorization.
Should you invest $1,000 in Perion Network right now?
Consider the significant downward revision in guidance and the competitive landscape before making any investment decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.