Perion Network (PERI) to Report Q3 Earnings: What to Expect
Perion Network PERI is slated to release its third-quarter 2023 results on Nov 1.
For the third quarter, the Zacks Consensus Estimate for revenues is pegged at $184.48 million, suggesting an increase of 16.30% from the year-ago quarter’s levels and in line with the company’s preliminary estimates.
The consensus mark for earnings stands at 76 cents per share, calling for an increase of 24.59% from the year-ago quarter’s figures.
Perion’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 17.80%.
Perion Network Ltd Price and EPS Surprise
Perion Network Ltd price-eps-surprise | Perion Network Ltd Quote
Let’s see how things have shaped up for this announcement.
Factors to Note
Perion’s third-quarter performance is likely to have benefited from its digital advertising industry, driven by its strong technology infrastructure and diversified product portfolio.
Revenues from high-margin business segments like Display Advertising and Search Advertising increased 22% and 21%, respectively, year over year. This trend is expected to have continued in the third quarter of 2023.
Perion’s Display Advertising revenues are expected to reflect benefits from the rising adoption of the company’s video and Connected TV solutions. Higher SORT customer spending is also expected to have aided top-line growth.
Moreover, the growing requirement for privacy is expected to have kept demand for SORT, driving the company’s top-line growth.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That’s the exact case here.
Perion has an Earnings ESP of +0.00% and a Zacks Rank #3 currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are a few other companies worth considering, as our model shows that these too, have the right combination of elements to beat on earnings in their upcoming releases:
GoDaddy GDDY has an Earnings ESP of +8.11% and sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
GoDaddy shares have declined 4.2% year to date. GDDY is set to report its third-quarter 2023 results on Nov 2.
Fastly FSLY has an Earnings ESP of +17.24% and a Zacks Rank #2 at present.
Fastly shares have gained 72.4% year to date. FSLY is set to report its third-quarter 2023 results on Nov 1.
Bill Holdings BILL has an Earnings ESP of +4.42% and a Zacks Rank #3 at present
Bill Holdings shares have declined 17.8% year to date. BILL is set to report its first-quarter fiscal 2024 results on Nov 2.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Perion Network Ltd (PERI) : Free Stock Analysis Report
GoDaddy Inc. (GDDY) : Free Stock Analysis Report
Fastly, Inc. (FSLY) : Free Stock Analysis Report
BILL Holdings, Inc. (BILL) : Free Stock Analysis Report
