Hard times for Opera?

By Derek Sooman on
"There is enormous market potential in several different projects. We are suffering from the dollar. Most of the cost increase came from employing more people." - Christian Jebsen, Opera chief financial officer.

Blaming an increase in operating expenses as well as the weak dollar, Opera Software who make the famous Opera Internet browser, have posted a third-quarter loss triple that of the same period a year ago. The news helped company stock fall by 6.5 percent.

Things are not all doom and gloom for the maker of the world's third most popular browser, however: the company has reported a seven-fold increase in revenues from its popular Web browser, and they have posted a net profit of $9.62 million in the first nine months of this year. This contrasts with their performance last year, which showed a net loss of $592,000 during the same period. And things may improve for the company in future - the consensus seems to be that Opera is making a smart move by spending more money on marketing efforts. However, one wonders how all the current hype surrounding Firefox will affect the Opera browser's chances of turning its fortune round.

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