CEVA, Inc. (CEVA) Tops Q3 EPS by 5c, Revenues Beat

CEVA, Inc. (NASDAQ: CEVA) reported Q3 EPS of $0.22, $0.05 better than the analyst estimate of $0.17. Revenue for the quarter came in at $23.47 million versus the consensus estimate of $22.73 million.

Gideon Wertheizer, CEO of CEVA, stated: "We are very pleased to report strong third quarter results, driven by excellent performance in licensing and a substantial step up in our royalty revenue. We continue to make progress in growing our customer base, including comprehensive agreements with industry leaders in strategic markets such as ADAS, hearing aids and cellular IoT. Our royalty revenue growth reflects good momentum in both the handset baseband and non-handset aspects of our business. Our handset baseband customers benefitted from the launch of premium smartphones and share gain in the low-cost smartphone market. Our non-handset business continues to grow with record high quarterly revenues and unit shipments of 123 million, including first-time contribution from our newly acquired Hillcrest Labs sensor fusion business."

For earnings history and earnings-related data on CEVA, Inc. (CEVA) click here.

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