|Bid||25.16 x 900|
|Ask||26.86 x 900|
|Day's Range||26.27 - 26.94|
|52 Week Range||20.83 - 37.31|
|Beta (5Y Monthly)||1.21|
|PE Ratio (TTM)||26.80|
|Earnings Date||Nov 07, 2022 - Nov 11, 2022|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||37.00|
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Good afternoon, ladies and gentlemen and welcome to Avid Technology's second quarter 2022 earnings conference call for the period ended June 30, 2022. My name is Whit Rappole, Avid's vice president, corporate development and investor relations. With me this afternoon are Jeff Rosica, our chief executive officer and president; and Ken Gayron, our chief financial officer and EVP.
Avid (AVID) delivered earnings and revenue surprises of 4% and 1.88%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
Subscription Revenue of $34.1M, an Increase of 58.7% Year-Over-Year, Driven by Increase of Cloud-Enabled Software Subscriptions to Over 450,300 Annual Recurring Revenue of $231.0M, an Increase of 14.1% Year-Over-Year Net Income per Common Share of $0.16 and Non-GAAP Earnings per Share of $0.26, an Increase of 4.0% Year-Over-Year BURLINGTON, Mass., Aug. 02, 2022 (GLOBE NEWSWIRE) -- Avid® (NASDAQ: AVID), a leading technology provider that powers the media and entertainment industry, today announce