Perion Network Announces Preliminary Q1 2024 Financial Results
Perion Network Ltd. (NASDAQ & TASE: PERI ), a technology leader in connecting advertisers to consumers across all major digital channels, announced today preliminary financial results for Q1 2024 and updated its full year 2024 guidance.
- Perion Network Ltd. (NASDAQ & TASE: PERI ), a technology leader in connecting advertisers to consumers across all major digital channels, announced today preliminary financial results for Q1 2024 and updated its full year 2024 guidance.
- In the first quarter of 2024, Perion experienced a decline in Search Advertising activity, attributable to changes in advertising pricing and mechanisms implemented by Microsoft Bing in its Search Distribution marketplace.
- These adjustments led to a reduction in Revenue Per Thousand Impressions (RPM) for both Perion and other Microsoft Bing distribution partners.
- As a result of the Microsoft Bing modifications, Perion expects Q1 2024 revenue and adjusted EBITDA1 of $157 million and $20 million, respectively.