Otello Corporation ASA

Earnings Release • Aug 7, 2015

Opera Issues Preliminary 2Q15 Financial Results and Updated Financial Guidance for 2015

Opera Issues Preliminary 2Q15 Financial Results and Updated Financial Guidance for 2015

Opera expects 2Q15 revenue of approximately $146 million, compared with revenue

of $100.6 million in 2Q14 and 2Q15 guidance of $145-155 million. Opera expects

adjusted EBITDA of approximately $29 million for the second quarter compared to

$27 million in 2Q14 and guidance of $29-34 million for the quarter. Opera

expects 2Q15 operating cash flow of approximately $31 million compared with

operating cash flow of $4.7 million in 2Q14.

Opera expects revenue for the full year 2015 of approximately $600-618 million

versus $480.8 million for 2014 and prior guidance of $630-650 million. Opera

expects Adjusted EBITDA for the full year 2015 of approximately $108-118 million

versus $118.0 million for 2014 and prior guidance of $130-140 million. For 3Q15,

Opera expects revenue of $148-153 million and Adjusted EBITDA of $26-28 million.

Opera´s updated financial guidance is based on weaker than expected performance

in the Mobile Advertising - 3rd Party Publisher business area, which is only

partially offset by a stronger outlook in our Consumer (O&O and Tech Licensing)

business area.

While AdColony Instant Play brand and performance revenue continues to be in

line with expectations for the Opera Mobile Advertising - 3rd Party Publisher

business area, Opera experienced softness in the non-Instant play video

advertising part of its business during the latter part of 2Q15, which also has

carried into July, both in the United States and EMEA.  As a result, Opera now

expects total revenue from the Mobile Advertising - 3rd Party Publisher area of

$392-405 million versus earlier expectations of $445-455 million.

Opera's Consumer (O&O and Tech Licensing) business is showing additional

strength exiting 2Q15 on the heels of strong search, mobile advertising and

license revenue. Opera expects this strength to continue into 2H 2015 and

consequently now expects revenue from the Consumer (O&O and Tech Licensing)

business to be $208-213 million (based on current exchange rates), which

includes $193-198 million of organic revenue (versus earlier expectations of

$185 - $195 million) and approximately $15 million of revenue from Bemobi.

Opera announced today the acquisition of Bemobi, a leading subscription based

mobile app and games discovery service in Latin America. The acquisition

positions Opera as a global player in the fast-growing mobile apps discovery and

monetization services segment and it increases Opera´s presence in Latin

America, one of the fastest growing mobile and smartphone markets.

Opera will provide more details on the second quarter and 2015 outlook at its

2Q15 presentation on August 12th.

Petter Lade, Investor Relations

Tel: +47 2369 2400

About Opera Software ASA

Opera enables more than 350 million internet consumers worldwide to connect with

the content and services that matter most to them. Opera also helps publishers

monetize their content through advertising and advertisers reach the audiences

that build value for their businesses, capitalizing on a global consumer

audience reach that exceeds 1 billion.