Avid Technology (Nasdaq: AVID) reported earnings on April 26. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Avid Technology met expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue dropped and GAAP loss per share expanded.

Margins dropped across the board.

Revenue details
Avid Technology notched revenue of $152.1 million. The three analysts polled by S&P Capital IQ foresaw a top line of $152.0 million on the same basis. GAAP reported sales were 8.5% lower than the prior-year quarter's $166.3 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$0.24. The four earnings estimates compiled by S&P Capital IQ anticipated -$0.22 per share. GAAP EPS were -$0.40 for Q1 compared to -$0.13 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 50.4%, 210 basis points worse than the prior-year quarter. Operating margin was -9.7%, 630 basis points worse than the prior-year quarter. Net margin was -10.3%, 720 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $158.9 million. On the bottom line, the average EPS estimate is -$0.01.

Next year's average estimate for revenue is $673.2 million. The average EPS estimate is $0.21.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 91 members out of 133 rating the stock outperform, and 42 members rating it underperform. Among 37 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 26 give Avid Technology a green thumbs-up, and 11 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Avid Technology is hold, with an average price target of $12.13.

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