ROCKVILLE, Md. (AP) — ROCKVILLE, Md. (AP) — Ceva Inc. (CEVA) on Wednesday reported a loss of $291,000 in its second quarter.
The Rockville, Maryland-based company said it had a loss of 1 cent per share. Earnings, adjusted for stock option expense and non-recurring costs, were 17 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The chip designer posted revenue of $28.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $24.5 million.
Ceva shares have decreased 29% since the beginning of the year. The stock has decreased 37% 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
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