Opera, a subsidiary of Kunlun Wanwei, announced its unaudited financial results for the third quarter of 2022. Adjusted EBITDA reached RMB 21.4 million, up 161% year-over-year.
In the third quarter, Opera reported search revenue of $35.4 million (approximately RMB 257 million), up 15% year-over-year, and advertising revenue of $49.1 million (approximately RMB 356 million), up 41% year-over-year. Monthly active users of the Opera GX game browser for PC and mobile exceeded 18 million in the third quarter.
The report pointed out that Opera’s global average monthly active users in the quarter was 321 million, with user growth in core markets remaining stable and users in the Americas maintaining strong growth. In addition, the user base in emerging markets has stabilized and ARPU levels have increased significantly.
Looking ahead, Opera expects revenue for the fourth quarter of 2022 to be $88 million (approximately RMB 638 million) – $91 million (approximately RMB 660 million) and adjusted EBITDA is expected to be in the range of $17 million (approximately RMB 123 million) – $19 million (approximately RMB 138 million).
In addition, Opera has raised its full-year earnings estimates and expects full-year 2022 revenue of $323 million (approximately RMB 2.342 billion) – $326 million (approximately RMB 2.364 billion), up from the previous estimate of $313 million – $319 million; adjusted EBITDA is expected to be $62 million (approximately RMB 450 million) – $64 million (approximately RMB 464 million). Adjusted EBITDA is expected to be in the range of $62 million (approximately RMB 454 million) to $64 million (approximately RMB 464 million), up from the previous estimate of $53 million to $60 million.
