Perion Network: Q1 Earnings Snapshot

HOLON, Israel (AP) — HOLON, Israel (AP) — Perion Network Ltd. (PERI) on Wednesday reported first-quarter earnings of $11.8 million.

On a per-share basis, the Holon, Israel-based company said it had profit of 24 cents. Earnings, adjusted for one-time gains and costs, were 44 cents per share.

The results met Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was also for earnings of 44 cents per share.

The digital media company posted revenue of $157.8 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $157 million.

For the current quarter ending in June, Perion Network said it expects revenue in the range of $118 million to $122 million.

The company expects full-year revenue in the range of $590 million to $610 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PERI at https://www.zacks.com/ap/PERI