Opera finances improve despite fierce competition

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Revenue derived from partnerships with operators has become Opera's biggest source of money.

(Credit: Opera Software)

Arguably, Opera Software has tougher competition now than at any point since the scrappy Norwegian company released its first browser in 1995.

Microsoft is aggressively developing Internet Explorer again. Firefox and Safari are widely used, and Chrome is ascendant. iOS and Android smartphones come with their own mobile browsers.

Despite that, Opera yesterday reported financial results with a healthy dose of good news. The recipe of Lars Boilesen, who took over as chief executive in early 2010, seems to be working.

Revenue for the second quarter of 2011 increased 29 percent from $31 million a year ago to $40 million. Profit rose even more, 47 percent, from $3.6 million to $5.3 million. Both those quarterly figures are records for the company.

The company makes money through a variety of means--search advertising revenue on its desktop browser, or licensing revenue as its browser is embedded in Internet-capable devices or its browsing services are used by mobile operators. Operator deals were the biggest source of funds, rising 41 percent to $14 million.

Opera CEO Lars Boilesen

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Stephen Shankland 26 Aug, 2011

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Source: http://news.cnet.com/8301-30685_3-20097330-264/opera-finances-improve-despite-fierce-competition/?part=test-cnet&subj=software&tag=title
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