Ceva: Q2 Earnings Snapshot

August 9, 2022 GMT

ROCKVILLE, Md. (AP) _ Ceva Inc. (CEVA) on Tuesday reported a second-quarter loss of $1.1 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Rockville, Maryland-based company said it had a loss of 5 cents. Earnings, adjusted for stock option expense and amortization costs, were 18 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The chip designer posted revenue of $33.2 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $34.7 million.

Ceva shares have declined 13% since the beginning of the year. The stock has decreased 26% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CEVA at https://www.zacks.com/ap/CEVA