MOUNTAIN VIEW, Calif. (AP) _ Ceva Inc. (CEVA) on Monday reported a loss of $2.3 million in its first quarter.
On a per-share basis, the Mountain View, California-based company said it had a loss of 10 cents. Earnings, adjusted for one-time gains and costs, were 1 cent per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The chip designer posted revenue of $17 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $17.9 million.
Ceva shares have risen 15% since the beginning of the year. The stock has dropped 26% 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