Adeia Inc reports results for the quarter ended June 30 - Earnings Summary

• Adeia Inc ADEA.OQ reported quarterly adjusted earnings of 25 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 28 cents. The mean expectation of four analysts for the quarter was for earnings of 24 cents per share. Wall Street expected results to range from 22 cents to 25 cents per share.

• Revenue fell 1.8% to $85.74 million from a year ago; analysts expected $88.48 million.

• Adeia Inc's reported EPS for the quarter was 15 cents​.

• The company reported quarterly net income of $16.72 million.

• Adeia Inc shares had fallen by 12.4% this quarter and lost 11.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 6.6% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the it services & consulting peer group is also "buy"

• Wall Street's median 12-month price target for Adeia Inc is $17.50, about 29.2% above its last closing price of $12.39

This summary was machine generated from LSEG data August 5 at 09:42 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)