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Shares of Avid Technology (NASDAQ:AVID) decreased in after-market trading after the company reported Q1 results.
Quarterly Results
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Earnings per share rose 450.00% year over year to $0.28, which beat the estimate of $0.21.
Revenue of $94,364,000 higher by 9.15% from the same period last year, which beat the estimate of $90,590,000.
Guidance
Avid Technology Sees Q2 2021 Revs $88.5M–$94.5M Vs $88.02M Est; Sees FY21 Revs $382M–$402M Vs $390.23M Est
Details Of The Call
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Date: May 05, 2021
Time: 05:30 PM
ET Webcast URL: https://edge.media-server.com/mmc/p/dm6btq79
Price Action
Company's 52-week high was at $24.47
52-week low: $4.67
Price action over last quarter: Up 12.66%
Company Overview
Avid Technology Inc develops and sells software and hardware for digital media production and management. Its products are used in production, film studios, cable television stations, recording studios, and other agencies. The company has operations in the U.S.; the Americas; Europe, Middle East, and Africa; and Asia-Pacific. Most of its revenue is split fairly evenly between the U.S. and EMEA. The company's products are organized into suites, including Artist Suite, which includes video editing and digital audio workstations; Media Suite, which provides newsroom management solutions; Studio Suite, which provides tools for on-air programming; and Storage Suite, which provides products for digital storage. It derives most of the revenue from video and audio products and services.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.