Adeia Q1 2024 Adj EPS $0.25 Beats $0.21 Estimate, Sales $83.405M Beat $81.850M Estimate
Portfolio Pulse from Benzinga Newsdesk
Adeia (NASDAQ:ADEA) reported Q1 2024 earnings of $0.25 per share, surpassing the $0.21 estimate, with sales of $83.405M also beating the $81.850M forecast. However, these figures represent a significant decrease from the previous year, with earnings down 47.92% and sales down 28.90%.
May 06, 2024 | 9:00 pm
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Adeia reported higher-than-expected Q1 2024 earnings and sales, but both metrics have significantly decreased compared to last year.
While Adeia's earnings and sales for Q1 2024 exceeded analyst expectations, the substantial year-over-year decline in both earnings and sales could concern investors. The positive earnings surprise may provide short-term stock support, but the significant decreases highlight potential challenges that could temper investor enthusiasm.
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