🔴 CEVA is trading 5.6% down today as sluggish royalty growth overshadowed earnings beat

CEVA is trading 5.6% down at $30.13 after investors continued selling following the August 10 earnings report, as royalty revenue rose just 1% year over year despite an earnings beat.

• Second-quarter revenue and adjusted EPS exceeded estimates; royalty revenue reached $10.8 million, versus 21% licensing growth.
• Management raised full-year revenue-growth guidance to 13%-15%, but the uneven recovery and COO exit weighed on sentiment.
• The broader market was nearly flat; trading volume and activity level were unavailable.