Ceva Stock Turns Lower Despite Q1 Double Beat
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CEVA, Inc. (NASDAQ:CEVA) shares initially rose but later fell 4.14% to $35.44 after reporting Q1 results. The company achieved adjusted earnings per share of 4 cents, surpassing estimates of 2 cents, and revenue of $27.02 million, exceeding the $26.12 million forecast. Licensing revenues reached $17.8 million, an 18% year-over-year increase, while AI contributed over 20% to licensing revenues. Despite a strong performance, CEVA's stock has seen a pullback after a significant rise of about 90.7% over the past month.
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