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

Avid Technology

04/05/2023 22:57

* Avid Technology Inc  AVID.OQ  reported quarterly adjusted
earnings of 15 cents​​ per share for the quarter ended in March.
The mean expectation of seven analysts for the quarter was
for earnings of 25 cents per share.
    * Revenue fell 2.8% to $97.81 million from a year ago;
analysts
expected $101.00 million. 
    * Avid Technology Inc's reported EPS for the quarter was a
loss of
1 cent​.
    * The mean earnings estimate of analysts had fallen by
about 18.8%
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 fallen by 17.1% this
quarter and
lost 0.3% so far this year.
    * The company reported a quarterly loss of $381 thousand.
    * 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 5 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data May
4 at 09:57 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2023      0.25           0.15           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