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ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Thursday reported a loss of $1.3 million in its third quarter.
The Rockville, Maryland-based company said it had a loss of 6 cents per share. Earnings, adjusted for stock option expense and amortization costs, were 14 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The chip designer posted revenue of $27.2 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $26.7 million.
Ceva shares have risen 11% since the beginning of the year. The stock has climbed 29% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CEVA at https://www.zacks.com/ap/CEVA