Recap: Avid Technology Q1 Earnings

Shares of Avid Technology (NASDAQ:AVID) decreased in after-market trading after the company reported Q1 results.

Quarterly Results

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

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.

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.