Perion Network Sees Revenue Growth for First Time in Six Quarters, Shares Rally 14.5%

Perion Network rallied 14.5% as it reported Q3 revenue growth for the first time in six quarters. The company's digital out-of-home and connected TV segments grew rapidly, while its web segment struggled. Perion's cash-heavy balance sheet and increased share repurchase authorization also contributed to the rally. The return to growth and cash-rich balance sheet make Perion a potential deep-value opportunity.