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Avid Technology Inc. (AVID) Is Heading Lower On Q1 Forecast

Avid Technology Inc. (AVID) announced after the bell Wednesday that it expects revenues for the first quarter to be approximately $152 million. The consensus estimate is for revenues of $161.08 million. The company currently expects to report a non-GAAP operating loss of approximately $8 million. The stock is now down 1.78 on 10K shares.

Avid Technology gapped up slightly Wednesday, but traded in a narrow range for the majority of the session. The stock closed higher by 0.10 at $10.28.

by RTTNews Staff Writer

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