Opera drops af­ter cut­ting forecast, start­ing strat­egy re­view

The Pak Banker - - COMPANIES/BOSS -

Opera Soft­ware ASA fell to the low­est level in five months af­ter the Nor­we­gian maker of In­ter­net browsers cut its 2015 sales forecast and said it re­ceived "strate­gic in­ter­est" from a num­ber of par­ties.

Opera slumped as much as 13 per­cent, the most since Feb. 11, and was down 10 per­cent at 54.8 kro­ner as of 10:58 a.m. in Oslo. About 2.7 mil­lion shares have traded so far, al­most four times the three­month av­er­age daily vol­ume.

The com­pany, with a mar­ket cap­i­tal­iza­tion of 8 bil­lion kro­ner ($1 bil­lion), de­vel­ops browsers that com­pete with those of Ap­ple Inc., Google Inc. and Mi­crosoft Corp.

Its rev­enue has risen more than 30 per­cent for the past four years, though the com­pany said sales growth is set to de­cel­er­ate more than pre­dicted this year be­cause of slow­ing mo­bile advertising de­mand.

Opera said sep­a­rately that it started a re­view to con­sider "strate­gic al­ter­na­tives" af­ter re­ceiv­ing "strate­gic in­ter­est" from a num­ber of par­ties.

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