Adeia Inc reports results for the quarter ended in January - Earnings Summary

Adeia

07/05/2024 09:52

* Adeia Inc  ADEA.OQ  reported quarterly adjusted earnings
of 25
cents​​ per share for the quarter ended in January, lower than
the same quarter last year, when the company reported EPS of 48
cents.  The mean expectation of three analysts for the quarter
was for earnings of 21 cents per share. Wall Street expected
results to range from 20 cents to 22 cents per share.
    * Revenue fell 28.9% to $83.41 million from a year ago;
analysts
expected $81.85 million. 
    * Adeia Inc's reported EPS for the quarter was 1 cent​.
    * The company reported quarterly net income of $899
thousand.
    * Adeia Inc shares had fallen by 8.5% this quarter and
lost 19.4%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 37%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "buy"

Wall Street's median 12-month price target for Adeia Inc is
$15.00 
This summary was machine generated from LSEG data May 7 at 08:51
a.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.21           0.25           Beat
 Dec. 31 2023      0.25           0.27           Beat
 Sep. 30 2023      0.26           0.38           Beat
 Jun. 30 2023      0.25           0.26           Beat