Investing.com - Avid reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Avid announced earnings per share of $0.38 on revenue of $102.99M. Analysts polled by Investing.com anticipated EPS of $0.32 on revenue of $106.12M.
Avid shares are down 16% from the beginning of the year and are trading at $24.49 , down-from-52-week-high.
Avid follows other major Information Technology sector earnings this month
Avid's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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