Ceva: Q2 Earnings Snapshot

ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Wednesday reported a loss of $5.8 million in its second quarter.

The Rockville, Maryland-based company said it had a loss of 25 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 2 cents 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 8 cents per share.

The chip designer posted revenue of $26.2 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $30.3 million.

Ceva shares have declined almost 2% since the beginning of the year. The stock has declined 33% 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 CEVA at https://www.zacks.com/ap/CEVA