Hard times for Opera?

By Derek Sooman on November 15, 2004, 12:48 PM
"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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