Recap: Avid Technology Q1 Earnings

Avid Technology AVID reported its Q1 earnings results on Thursday, May 4, 2023 at 04:00 PM.

Here's what investors need to know about the announcement.

Avid Technology missed estimated earnings by 40.0%, reporting an EPS of $0.15 versus an estimate of $0.25.

Revenue was down $2.84 million from the same period last year.

Last quarter the company missed on EPS by $0.03 which was followed by a 0.35% drop in the share price the next day.

Here's a look at Avid Technology's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	0.48	0.31	0.26	0.34
EPS Actual	0.45	0.38	0.26	0.33
Revenue Estimate	115.02M	105.46M	96.62M	103.05M
Revenue Actual	116.10M	102.98M	97.68M	100.65M

To track all earnings releases for Avid Technology visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.