Avid Technology Q2 Adj $0.22 Beats $0.21 Estimate, Sales $108.54M Beat $103.45M Estimate
Portfolio Pulse from Benzinga Newsdesk
Avid Technology (NASDAQ:AVID) reported Q2 earnings of $0.22 per share, beating the analyst consensus estimate of $0.21 by 4.76%. However, this is a 15.38% decrease from the same period last year. The company also reported quarterly sales of $108.54 million, beating the analyst consensus estimate of $103.45 million by 4.92%, and marking an 11.12% increase from the same period last year.
August 09, 2023 | 8:58 pm
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Avid Technology reported better than expected Q2 earnings and sales. However, the earnings per share decreased by 15.38% compared to the same period last year.
Avid Technology's better than expected Q2 earnings and sales are likely to have a positive impact on its stock price in the short term. However, the decrease in earnings per share compared to the same period last year might temper this positive impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100