Shares plunge 12% in premarket trading

  • Perion Network shares slide after earnings and revenue growth projections disappoint investors
  • Shares plunge 12% in premarket trading
  • Fourth-quarter earnings of $39.4 million, revenue rose 12% to $234.2 million
  • Perion forecasts 2024 revenue between $860 million and $880 million
  • Projected adjusted earnings before interest, taxes, depreciation, and amortization for 2024 between $178 million and $182 million

Perion Network shares experienced a significant decline as the company’s earnings and revenue growth projections fell short of investors’ expectations. The shares plummeted by 12% to $25.99 during premarket trading. Despite posting fourth-quarter earnings of $39.4 million, which were relatively consistent with the previous year, and a 12% increase in revenue to $234.2 million, Perion’s forecast for 2024 revenue between $860 million and $880 million was not well-received. Additionally, the projected adjusted earnings before interest, taxes, depreciation, and amortization for 2024, ranging between $178 million and $182 million, failed to meet investor expectations. This disappointing news has led to a significant decline in Perion Network shares.

Public Companies: Perion Network (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides factual information about Perion Network’s earnings and revenue growth projections. It does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The information provided is concise and to the point.

Noise Level: 7
Justification: The article provides relevant information about Perion Network’s earnings and revenue growth projections. However, it lacks in-depth analysis, scientific rigor, and intellectual honesty. It does not explore the consequences of the company’s performance on stakeholders or provide actionable insights or solutions. The article stays on topic but lacks evidence, data, or examples to support its claims. Overall, it contains some noise and filler content.

Financial Relevance: Yes
Financial Markets Impacted: Perion Network

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses Perion Network’s earnings and revenue growth projections. However, there is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com