Benzinga | Aug 3, 2021 04:52PM EDT

Avid Technology: Q2 Earnings Insights

Shares of Avid Technology (NASDAQ:AVID) fell in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 108.33% year over year to $0.25, which beat the estimate of $0.23.

Revenue of $94,876,000 rose by 19.67% from the same period last year, which beat the estimate of $91,540,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Aug 03, 2021

Time: 05:30 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/km27i4m5

Price Action

Company's 52-week high was at $40.48

52-week low: $7.23

Price action over last quarter: Up 31.03%

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.