SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adeia Inc. (ADEA) on Tuesday reported second-quarter net income of $16.7 million.
On a per-share basis, the San Jose, California-based company said it had net income of 15 cents. Earnings, adjusted for amortization costs and stock option expense, were 25 cents per share.
The provider of chip technology for small electronic devices posted revenue of $85.7 million in the period.
Adeia shares have fallen 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.49, an increase of 26% in the last 12 months.
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