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Perion’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 12.86%.
Let’s see how things have shaped up for this announcement.
Factors to Note
Perion’s first-quarter performance is likely to have benefited from its digital advertising industry, driven by its diversified product portfolio across various advertising channels, including search, CTV (Connected TV) and retail media.
Strengthening international footprint is expected to have remained a key factor in driving Perion’s performance in the to-be-reported quarter. Its partnership in Brazil with Eletromidia, one of the largest media owners in the country’s advertising landscape in the fourth quarter, is likely to have driven growth in the first quarter.
The partnership provides access to more than 46,000 digital screens, presenting significant opportunities for Perion's high-impact display and creative solutions. This, in turn, is expected to have driven revenue growth and diversification of the company's client base in the quarter under review.
PERI's advertising solutions, such as generative AI audio ads and Pause Ads in partnership with DirecTV, are likely to have gained solid traction among advertisers, driving its consumer engagement in the first quarter.
The acquisition of HiveStack, a global programmatic digital out-of-home solution, is expected to have contributed significantly to Perion's diversification strategy in the to-be-reported quarter.
By leveraging synergies between retail media solutions and HiveStack's capabilities, Perion aims to offer comprehensive solutions to its customer base. Cross-selling opportunities and geographic expansion into fast-growing markets are expected to have driven revenue growth in the quarter under review.
Perion's Display Advertising revenues are likely to have benefited from increased adoption of its video and Connected TV solutions, alongside higher spending from SORT customers. Increasing privacy concerns are expected to have driven the demand for SORT, contributing to the company's revenue growth.
The company is expected to have registered a drop in Search Advertising due to Microsoft Bing's pricing and distribution adjustments, resulting in lower revenue per thousand impression (RPM) and reduced search volume.
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. But that’s not the case here.
Perion Network has an Earnings ESP of +0.00% and a Zacks Rank #5 (Strong Sell) currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Perion Network (PERI) to Report Q1 Earnings: What to Expect
Perion Network (PERI - Free Report) is slated to release its first-quarter 2024 results on May 8.
For the first quarter, PERI expects revenues of $157 million, indicating year-over-year growth of 8%
The Zacks Consensus Estimate for revenues is pegged at $156.96 million, suggesting an increase of 8.13% from the year-ago quarter’s levels.
The consensus mark for first-quarter 2024 earnings is pegged at 44 cents per share, indicating a decline of 26.67% year over year.
Perion Network Ltd Price and EPS Surprise
Perion Network Ltd price-eps-surprise | Perion Network Ltd Quote
Perion’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average surprise being 12.86%.
Let’s see how things have shaped up for this announcement.
Factors to Note
Perion’s first-quarter performance is likely to have benefited from its digital advertising industry, driven by its diversified product portfolio across various advertising channels, including search, CTV (Connected TV) and retail media.
Strengthening international footprint is expected to have remained a key factor in driving Perion’s performance in the to-be-reported quarter. Its partnership in Brazil with Eletromidia, one of the largest media owners in the country’s advertising landscape in the fourth quarter, is likely to have driven growth in the first quarter.
The partnership provides access to more than 46,000 digital screens, presenting significant opportunities for Perion's high-impact display and creative solutions. This, in turn, is expected to have driven revenue growth and diversification of the company's client base in the quarter under review.
PERI's advertising solutions, such as generative AI audio ads and Pause Ads in partnership with DirecTV, are likely to have gained solid traction among advertisers, driving its consumer engagement in the first quarter.
The acquisition of HiveStack, a global programmatic digital out-of-home solution, is expected to have contributed significantly to Perion's diversification strategy in the to-be-reported quarter.
By leveraging synergies between retail media solutions and HiveStack's capabilities, Perion aims to offer comprehensive solutions to its customer base. Cross-selling opportunities and geographic expansion into fast-growing markets are expected to have driven revenue growth in the quarter under review.
Perion's Display Advertising revenues are likely to have benefited from increased adoption of its video and Connected TV solutions, alongside higher spending from SORT customers. Increasing privacy concerns are expected to have driven the demand for SORT, contributing to the company's revenue growth.
The company is expected to have registered a drop in Search Advertising due to Microsoft Bing's pricing and distribution adjustments, resulting in lower revenue per thousand impression (RPM) and reduced search volume.
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. But that’s not the case here.
Perion Network has an Earnings ESP of +0.00% and a Zacks Rank #5 (Strong Sell) currently. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
NVIDIA (NVDA - Free Report) has an Earnings ESP of +2.50% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVIDIA’s shares have gained 79.3% year to date. NVDA is scheduled to release first-quarter fiscal 2025 results on Jul 22.
Agilent Technologies (A - Free Report) has an Earnings ESP of +0.72% and a Zacks Rank #3.
Agilent Technologies shares have gained 0.3% year to date. A is set to report its second-quarter fiscal 2024 results on May 29.
Docebo (DCBO - Free Report) has an Earnings ESP of +8.00% and a Zacks Rank #3 at present.
Docebo’s shares have declined 5% year to date DCBO is set to report first-quarter 2024 results on May 9.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.