Avid Q3 results mixed, co cuts FY 2022 revenue guidance, tightens adj. EPS outlook

• Avid press release (NASDAQ:AVID): Q3 Non-GAAP EPS of $0.38 beats by $0.06.
• Revenue of $102.99M (+1.3% Y/Y) misses by $2.47M.
• Sees FY 2022 revenue of $412M to $424M, compared to prior outlook of $425M to $455M. The consensus revenue estimate is $434.27M.
• Sees FY 2022 adj. EPS of $1.40 to $1.50, compared to prior outlook of $1.37 to $1.53. The consensus EPS estimate is $1.44.