Avid Technology: Surges after Q1 earnings trounce estimates

Avid Technology

06/05/2019 21:52

** Maker of Avid video editing software's shares  AVID.O 
rise 11.7% to $10.30 in extended trading
    ** If gains hold, stock to open at 4-year high after co
beats Q1 EPS, rev estimates, helped by growth in its products
unit
    ** Backs FY2019 forecast for rev, adj. EBITDA and free cash
flow; Sees Q2 rev between $97 mln-105.5 mln, the mid point of
which is slightly below est 
    ** AVID shares nearly doubled this year

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))