Avid Technology Inc reports results for the quarter ended in December - Earnings Summary

Avid Technology

01/03/2023 22:43

* Avid Technology Inc  AVID.OQ  reported quarterly adjusted
earnings of 45 cents​​ per share for the quarter ended in
December. The mean expectation of six analysts for the quarter
was for earnings of 48 cents per share.
    * Revenue fell 2.5% to $116.10 million from a year ago;
analysts
expected $115.02 million. 
    * Avid Technology Inc's reported EPS for the quarter was 57
cents​.
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days there have been no earnings estimate
revisions by analysts covering the company. 
    * Avid Technology Inc shares had risen by 9.3% this quarter.
    * The company reported quarterly net income of $25.26
million.
    * Wall Street's median 12-month price target for Avid
Technology
Inc is $32.00 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 

This summary was machine generated from Refinitiv data March 1
at 10:43 p.m.  ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2022      0.48           0.45           Missed
 Sep. 30 2022      0.31           0.38           Beat
 Jun. 30 2022      0.25           0.26           Beat
 Mar. 31 2022      0.34           0.33           Missed