AudioCodes slumps on downbeat Q1 preliminary results
10/04/2023 15:26
** U.S.-listed shares of Israel-based software publisher
AudioCodes Ltd AUDC.O down 15.6% at $12.13
** Co's Q1 preliminary results are between $58.5 mln and $60
mln, about 10%-20% lower than a year-ago period
** Analysts on average had expected Q1 2023 rev to be $66.8
mln - Refintiv IBES
** AUDC also sees Q1 adj profit between $0.07 per share and
$0.09; analysts on average had expected profit of $0.27/shr
** Co says global uncertainities affecting consumer demands
in key economies and inventory tightening by North American
service providers among reasons that affected Q1 results
** Says it plans to revise 2023 outlook at its Q1 '23
financial results conference scheduled for May 9
** Up to last close, AUDC stock down 32% YTD
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com;))