Avid: Q4 Earnings Snapshot
By AP News
Published - Mar 01, 2023, 04:41 PM ET
Last Updated - Jun 22, 2023, 06:34 PM EDT
BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Avid Technology Inc. (AVID) on Wednesday reported fourth-quarter profit of $25.3 million.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 57 cents. Earnings, adjusted for one-time gains and costs, came to 45 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The audio and video technology company posted revenue of $116.1 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $114.1 million.
