Avid Technology, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 91.01 million compared to USD 102.99 million a year ago. Net loss was USD 7.33 million compared to net income of USD 12.02 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.27 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 0.27 a year ago.
For the nine months, revenue was USD 297.36 million compared to USD 301.31 million a year ago. Net loss was USD 12.31 million compared to net income of USD 29.98 million a year ago. Basic loss per share from continuing operations was USD 0.28 compared to basic earnings per share from continuing operations of USD 0.67 a year ago. Diluted loss per share from continuing operations was USD 0.28 compared to diluted earnings per share from continuing operations of USD 0.66 a year ago.