Opera Mediaworks continues strong growth in Q2

• Drives record revenue and profits for Opera Software ASA
• Mobile advertising platform now comprises over 50% of overall Opera revenues

Opera Software reported its second quarter earnings this week, showing strong revenue growth from its mobile advertising subsidiary Opera Mediaworks.

Some of the revenue highlights from Opera Software are:

· Revenue of $ 100.6 million, up 38% versus Q213

· Adjusted EBITDA* (excluding one-time extraordinary costs) of $ 27 million, up 24% versus 2Q13

From the total Opera revenues, Opera Mediaworks, the world’s leading mobile ad platform, reported revenues of $51.1 million in Q2 2014, up 83% compared to Q2 2013.

In this quarter, for the first time, the Opera Mediaworks business became the largest source of revenue for Opera (51% of total Opera Software revenues).

Together in Q2, total advertising impressions managed by the Opera Mediaworks (including Opera Owned and Operated properties) was 187 billion.

This past quarter, Opera announced the acquisition of AdColony, a global leading mobile video ad platform – now part of the Opera Mediaworks business. On a combined basis, this clearly establishes Opera Mediaworks as a global leader in mobile advertising, with a total monthly reach north of 800 million unique consumers.

The global advertising industry continues to experience a macro shift in advertising spend from traditional offline channels, such as print, television and radio to online channels, with mobile taking an increasing share of the online/Internet medium.

This shift from offline to online has been fueled by several factors, namely, the increasing amount of time consumers spend online and on mobile devices, and the fact that digital advertising compared to traditional offline advertising enables much better targeting, provides opportunities for more user interaction, and provides better measurement capabilities.

“Opera Mediaworks’ goal is to power the mobile advertising economy through innovation, transparency and trust. Our end-to-end platform is the only service portfolio that serves the needs of brands, agencies, publishers and developers,” says Mahi de Silva, CEO, Opera Mediaworks.

“The shift in digital advertising towards mobile, combined with our expertise of being a mobile-first ad platform, has fueled tremendous growth at Opera Mediaworks. In a time, where most ad-tech companies are struggling to make a profit, we are very proud to deliver record revenue and profit in the second quarter,” he added.

You can read more about Opera’s Q2 results here.