The financial results for the first quarter of 2009 are now available. This time around, desktop revenue only increased by 103% since Q1 2008, which is down from the 117% revenue increase in Q4 2008. Still, growth continues in all areas and business segments, and profits doubled or so since Q1 2008. …
- Desktop users grew by 13% in Q1 (up 64% from Q1 2008)
- Opera Mini had 23.4 million users in April (140% growth since April 2008, 157% since Q1 2008)
- Mobile OEMs were the biggest revenue driver
- Total revenue was up 59% since Q1 2008
- Desktop revenue up 103% since Q1 2008
- There is strong growth in Opera Mini license revenue from active user growth for operators and new deals
- We recently established a new office in Warsaw, Poland
- Opera had 685 full-time employees at the end of the quarter
Expenses were up 48%, which is what was reported and expected due to increased investments in personnel, new products and services, research, and so on (there are new products and services that haven't even been announced yet, so stay tuned). Investments will apparently continue, but still with strict control so that we keep costs under control as we did in Q1.
The market is still moving in the right direction for Opera, and we seem to be positioned very nicely to take advantage of the "megatrends". As our CEO points out, about 1.5 billion people are online. This is just 20% of the total population in the world. The potential for long-term growth is huge.