Advertising technology company Perion Network Ltd.'s (Nasdaq: PERI) search advertising business unit CodeFuel has been named Microsoft Advertising’s 2021 Supply Partner of the Year EMEA.
Perion Network's announcement said, "This prestigious award goes to the business that has shown excellence in partnership with Microsoft Advertising across all areas of collaboration. This recognition is based on key partnership results that include engagement, revenue growth, feature adoption in Search and Native, and the scale of joint activities."
"With a partnership with Microsoft that is more than a decade old, the recognition of being named Microsoft’s Advertising Partner of the Year is the culmination of our work together thus far, and we believe it is just the beginning," said Perion Network CEO Doron Gerstel.
"The pandemic saw an unprecedented explosion in the eCommerce sector, the equivalent of years of growth," Gerstel added. "As a result, advertisers allocated more of their budget to the search category, where consumers express their highest level of purchase intent, which makes our partnership with Microsoft Advertising even more strategic. Together, we remain committed to building our publisher network while maintaining the impeccable quality standards which matter so much to both of us."
Perion Network reported revenue of $158 million for the fourth quarter of 2021, up 34% from $118.3 million in the fourth quarter of 2020. Net profit on a GAAP basis in the fourth quarter was $17.7 million, which compares with $9.0 million in the fourth quarter of 2020.
Published by Globes, Israel business news - en.globes.co.il - on February 14, 2022.
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