Perion Network Stock Plummets Over 40% on Q1 Revenue Miss

Tuesday, 9 April 2024, 01:42

Shares of Perion Network (NASDAQ: PERI) nosedived by more than 40% on Monday as the company reported disappointing preliminary first-quarter 2024 results, citing struggles with Microsoft Bing advertising changes. The reduced guidance for 2024 further added pressure on investors, indicating a challenging period ahead for the digital advertising company.
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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.


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