Sea Change Intl IN Down 0.07% To $8.88 After Earnings Beat

Tuesday, June 13, 2023 - Sea Change Intl IN (SEAC) reported upside earnings and downside revenues.

Sea Change Intl IN's earnings came in at an EPS loss of $0.12 per share, 80.00% higher than estimates for an EPS loss of $0.6 per share. The firm's loss per share narrowed by 80% since reporting a loss of $0.6 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were downbeat at $7 million. That is an increase of 4.00% in revenues from the year-ago report and is 8.00% lower than consensus estimates set at $7.6 million.

The stock is down 0.07% to $8.88 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 27.

SeaChange International Inc is a provider of multiscreen video solutions for television service providers, telecommunications companies, satellite operators, and media companies. The business has two product areas: multiscreen video back-office and advertising and video gateway software solutions. The firm's solutions facilitate aggregation, licensing, management, and distribution of video and advertising content for its customers. The company derives revenue from sales of hardware, software, systems, and services in multiple-element arrangements. Roughly half of the firm's revenue is generated in the United States, with the rest in Europe, Middle East, Latin America, and Asia-Pacific regions.