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

Avid Technology

10/08/2023 24:28

* Avid Technology Inc  AVID.OQ  reported quarterly adjusted
earnings of 22 cents​​ per share for the quarter ended in June.
The mean expectation of six analysts for the quarter was
for earnings of 21 cents per share.
    * Revenue rose 11.1% to $108.54 million from a year ago;
analysts
expected $103.45 million. 
    * Avid Technology Inc's reported EPS for the quarter was a
loss
of 10 cents​.
    * The mean earnings estimate of analysts had fallen by
about 2.9%
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 5.6% this
quarter and
gained 1.3% so far this year.
    * The company reported a quarterly loss of $4.6 million.
    * Wall Street's median 12-month price target for Avid
Technology
Inc is $36.50 
    * 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 LSEG Refinitiv data
August 9 at 11:28 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      0.21           0.22           Beat
 Mar. 31 2023      0.25           0.15           Missed
 Dec. 31 2022      0.48           0.45           Missed
 Sep. 30 2022      0.31           0.38           Beat