Shares of Avid Technology jumped 25% to over $12 bucks a share and over 1 million shares changed hands in yesterday morning's trading. Why? Avid reported a quarterly profit for the first time in 4 years.
Gross margins are up 54% while operating expenses fell 7%. The profit estimate was 16 cents a share but actual returns were more than double at 38 cents a share.
I'm sure all the people at Avid want to thank to Apple and FCPx...
Gross margins are up 54% while operating expenses fell 7%. The profit estimate was 16 cents a share but actual returns were more than double at 38 cents a share.
I'm sure all the people at Avid want to thank to Apple and FCPx...
No comments:
Post a Comment