Opera Software has released its financials for the third quarter of 2012, and they look pretty good. Revenue grew 40% year-on-year to 56.4 million USD. However, due to a significant increase in expenses, net income fell to 6.5 million USD from 9.9 million USD in Q3 2011.
Over the past several years, Opera’s real strength has been the mobile segment. Opera Mini has been the real growth driver for the Norwegian firm. This trend continued into the recently concluded quarter. Opera finished the quarter with more than 207 million users of their mobile products alone. Opera Mini’s astronomical growth has slowed down a bit over the past few quarters, but it is still expanding its user base at a fair click. Year-on-year, Opera Mini’s user base grew by 112%. The growth was primarily driven by partnerships with operators like Airtel, Etisalat, MTN and Vodafone. Opera’s revenue from mobile consumer and mobile publishers and advertisers grew by more than 400%. Perhaps most crucially, Opera exhibited strong growth in Android with 300% year-on-year increase in users. As more and more people move away from feature phones to smartphones, Opera will have to keep on innovating to grab a slice of the smartphone segment.
Opera for desktop on the other hand, remained to be an area of concern. Opera exhibited practically no growth with just 2% increase in user base year-on-year. Currently, Opera for desktop has 55 million active users. Opera admitted during its Q&A with the investors that it’s not happy with the desktop growth and the impact of Opera 12 was less than expected. Opera Software promised strong products at the beginning of 2013, which suggests that Opera 12.20 will be released within a few months. Although, Opera didn’t manage to expand its reach, revenue from desktop increased quite nicely from 13 million USD in Q3 2011 to 19 million USD in Q3 2012.