Perion Network: Q4 Earnings Snapshot

Associated Press Finance
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HOLON, Israel (AP) — HOLON, Israel (AP) — Perion Network Ltd. (PERI) on Wednesday reported fourth-quarter net income of $39.4 million.

On a per-share basis, the Holon, Israel-based company said it had profit of 78 cents. Earnings, adjusted for one-time gains and costs, came to $1.04 per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The digital media company posted revenue of $234.2 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $233.1 million.

For the year, the company reported profit of $117.4 million, or $2.34 per share. Revenue was reported as $743.2 million.

Perion Network expects full-year revenue in the range of $860 million to $880 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PERI at https://www.zacks.com/ap/PERI

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