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

Adeia

06/08/2024 23:25

* Adeia Inc  ADEA.OQ  reported quarterly adjusted earnings
of 28
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of 26
cents.  The mean expectation of three analysts for the quarter
was for earnings of 23 cents per share. Wall Street expected
results to range from 22 cents to 24 cents per share.
    * Revenue rose 5% to $87.35 million from a year ago;
analysts
expected $84.25 million. 
    * Adeia Inc's reported EPS for the quarter was 7 cents​.
    * The company reported quarterly net income of $8.38
million.
    * Adeia Inc shares had fallen by 11.2% this quarter and
lost 19.9%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 12.7%
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 August 6 at
10:25 p.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
 Jun. 30 2024      0.23           0.28           Beat
 Mar. 31 2024      0.21           0.25           Beat
 Dec. 31 2023      0.25           0.27           Beat
 Sep. 30 2023      0.26           0.38           Beat