— Avid Technology Inc. (NASDAQ: AVID) reported its fourth-quarter 2019 adjusted earnings of $0.28 per share versus $0.30 per share expected.
— Revenue rose by 3.2% to $116.3 million versus $111.85 million expected.
— Subscription revenue jumped by 53.6% year-over-year to $15.8 million. Subscription and Maintenance revenue increased by 10.3% to $49.3 million.
— Operating expenses rose by 5.7% due to higher R&D investment and growing web-store fees from increased transaction volume as well as temporary items related to the timing of bonus accrual and higher sales commissions.
— Annual contract value increased by 13% to $280 million at the end of 2019 from last year. This reflects continuing growth in high-margin subscription revenue plus maintenance revenues and revenues under long-term agreements.
— Looking ahead into the first quarter of 2020, the company expects revenue in the range of $95-105 million. Analysts expect revenue of $104.1 million.
— For the full year 2020, the company expects revenue in the range of $417-437 million and adjusted earnings of $0.84-0.93 per share. The consensus estimates EPS of $0.77 on revenue of $419.99 million.
Customer relationship management platform Salesforce, Inc. (NYSE: CRM) reported higher earnings and revenues for the third quarter of 2024. Earnings also topped expectations. Third-quarter profit, excluding non-recurring items, increased to
Auto parts retailer AutoZone, Inc. (NYSE: AZO) is preparing to report first-quarter results next week, after delivering better-than-expected quarterly earnings consistently in recent years. Analysts forecast an increase in profit
Shares of Hormel Foods Corporation (NYSE: HRL) were down over 4% on Wednesday after the company delivered fourth quarter 2023 earnings results that fell below expectations. The stock has dropped