Opera Software may be best known for the desktop and mobile web browser of the same name, but it’s increasingly becoming a mobile ad company, as shown in a recent blog post about the company’s second quarter earnings report.
Opera says that for the first time, its mobile ad division Opera Mediaworks was its largest source of revenue, accounting for 51 percent of the total. Mediaworks reported revenue of $51.1 million, up 83 percent year-over-year.
Opera has fueled that growth, in part, by buying startups. The company has made nine acquisitions in the past four years, most recently announcing the purchase of AdColony for up to $350 million.
“The shift in digital advertising towards mobile, combined with our expertise of being a mobile-first ad platform, has fueled tremendous growth at Opera Mediaworks,” said Mediaworks CEO Mahi de Silva in the blog post. “In a time where most ad-tech companies are struggling to make a profit, we are very proud to deliver record revenue and profit in the second quarter.”
The company’s total revenue grew 38 percent year-over-year, to $100.6 million.