Ceva: 2Q Earnings Snapshot
MOUNTAIN VIEW, Calif. (AP) _ Ceva Inc. (CEVA) on Thursday reported a loss of $1.5 million in its second quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 7 cents. Earnings, adjusted for stock option expense and amortization costs, came to 5 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The chip designer posted revenue of $18.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $17.4 million.
Ceva shares have risen 22% since the beginning of the year. The stock has decreased almost 3% in the last 12 months.