Adeia shares are trading lower after the company reported worse-than-expected Q2 revenue results and reaffirmed FY23 revenue guidance.
Portfolio Pulse from Benzinga Newsdesk
Adeia's shares are trading lower following the company's Q2 revenue results, which were below expectations. The company also reaffirmed its FY23 revenue guidance.
August 08, 2023 | 4:35 pm
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NEGATIVE IMPACT
Adeia's stock price is experiencing a downturn due to worse-than-expected Q2 revenue results. The reaffirmation of FY23 revenue guidance did not seem to alleviate investor concerns.
Adeia's Q2 revenue results were below market expectations, which has led to a decrease in the company's stock price. The reaffirmation of FY23 revenue guidance indicates that the company's future revenue outlook remains unchanged. However, this news did not seem to alleviate investor concerns, as reflected in the lower stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100