By Dean Seal
Shares of Perion Network dropped after its first-quarter loss widened and revenue fell short of Wall Street estimates due to weaker web advertising.
The stock fell 16% to $9.01 on Wednesday. Shares are now in negative territory year-to-date.
The advertising company said revenue ticked up 1% to $90.4 million, shy of analyst targets for $91.7 million, according to FactSet.
The small gain was driven by a 21% jump in search advertising revenue, which now makes up more than a quarter of Perion's total top line. It's larger advertising business meanwhile took a hit from a decline in web activity.
Perion said its quarterly loss widened to $10 million, or 26 cents a share, from a loss of $8.3 million, or 19 cents a share, in the same quarter a year earlier. Stripping out one-time items, adjusted earnings were 11 cents a share, which was better than the 6 cents a share expected by analysts.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 20, 2026 11:26 ET (15:26 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.