AP NEWS

Avid: 2Q Earnings Snapshot

August 9, 2018

BURLINGTON, Mass. (AP) _ Avid Technology Inc. (AVID) on Thursday reported a loss of $8.5 million in its second quarter.

On a per-share basis, the Burlington, Massachusetts-based company said it had a loss of 20 cents. Losses, adjusted for non-recurring costs, were 12 cents per share.

The audio and video technology company posted revenue of $98.6 million in the period.

Avid shares have increased 3.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.58, a rise of 22 percent 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 AVID at https://www.zacks.com/ap/AVID

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