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Why Opera Limited Plunged Today

TheMotleyFool

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Why Opera Limited Plunged Today: https://g.foolcdn.com/editorial/images/774407/gettyimages-1157159136.jpg

Shares of internet browser company Opera Ltd. (NASDAQ: OPRA) were falling in Thursday trading, down 8.6% as of 2 p.m. ET.

Opera reported earnings last night, and while revenue slightly beat expectations, earnings per share (EPS) missed. The company is spending heavily on a new artificial intelligence (AI) cluster, much like other big tech companies are. However, given the big spend on AI, some may have anticipated better second-quarter revenue and earnings guidance.

Still, the stock looks quite cheap.

Source Fool.com