AP NEWS
Click to copy
Click to copy

Ceva: 2Q Earnings Snapshot

August 8, 2019

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.

_____

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

All contents © copyright 2019 The Associated Press. All rights reserved.