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● Opera Opera Limited announces first quarter 2021 financial results , exceeds expectations for revenue growth and adjusted EBITDA April 27 , 2021 Core search and advertising growth rates accelerate to 38 % year - over - year in Q1 driven by strong browser and news performance Multiple new initiatives gaining traction : investments in gaming , fintech , and expansion of Opera News to developed markets Company raises growth estimates , sees year over year revenues increasing 44 % at the midpoint ( versus prior expectations of 39 % ) OSLO , Norway , April 27 , 2021 / PRNewswire / -- Opera Limited ( NASDAQ : OPRA ) , one of the world's largest internet consumer brands with hundreds of millions of users worldwide , today announced its unaudited consolidated financial results for the quarter ended March 31 , 2021 : O Opera First quarter 2021 financial highlights [ US $ thousands , except for margins and per ADS amounts ] Revenue Net income ( loss ) Margin Adjusted EBITDA ( 1 ) Margin Adjusted net income ( 1 ) Margin Diluted net income per ADS , US $ Diluted adjusted net income per ADS , US $ ( 1 ) Three Months Ended March 31 , Year - over- 2020 40,194 ( 20,859 ) -51.9 % 2021 year % change 51,583 28.3 % 639 n.m. 1.2 % ( 338 ) -0.8 % 4,576 n.m. 8.9 % 4,607 8.9 % n.m. 0.01 n.m. ( 12,271 ) -30.5 % ( 0.17 ) ( 0.10 ) 0.04 n.m. ( 1 ) Please see the separate section " About non - IFRS financial measures " for the definitions of adjusted EBITDA and adjusted net income . " Opera's financial outperformance this quarter is a welcome validation of our strategic approach to growth , and highlights our two complementary strengths , " noted co - CEO Song Lin . " First , our core businesses are operating at greater scale across our key markets , with higher user engagement . As a consequence , user - driven search and advertising revenues accelerated to 38 % year - over - year growth . Second , the strategic investments we have made in adjacent growth categories , including gaming and fintech , are showing good early traction , and we'll continue to invest heavily in them . This includes the launch of our smart shopping / cashback offering in Spain , Opera News performing well at early - stage western market launches , and expanding the features and reach of Opera's GX gaming browser . While we invested heavily in our new initiatives , our adjusted EBITDA came in well ahead of guidance as revenue overperformance cascaded to profits . Overall , this was a very strong start to our year , directly reflecting how well we're executing on all fronts . " First Quarter and Recent Business Highlights • Core search and advertising growth rates accelerated to 38 % year - over - year in Q1 driven by strong browser and news performance • Opera's monthly active user base increased by 16 million year - over - year in the first quarter ; driven by 12 % and 14 % year - over - year growth in core regions Africa and Europe , respectively • The Company reached 79 million average monthly PC users in the first quarter , up 17 % year - over - year