Investing.com - Valens reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Valens announced earnings per share of $-0.02 on revenue of $23.14M. Analysts polled by Investing.com anticipated EPS of $-0.09 on revenue of $22.39M.
Valens shares are down 16.73% from the beginning of the year, still down 67.02% from its 52 week high of $12.19 set on November 10, 2021.
Valens shares lost 0.50% in pre-market trade following the report.
Valens follows other major Information Technology sector earnings this month
Valens's report follows an earnings beat by Apple on October 27, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on October 25 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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