AudioCodes (AUDC) Meets Q2 Earnings Estimates

Group 1: Earnings Performance - AudioCodes reported quarterly earnings of $0.18 per share, matching the Zacks Consensus Estimate, and an increase from $0.16 per share a year ago [1] - The company posted revenues of $60.3 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.62% and up from $60.02 million year-over-year [1] - Over the last four quarters, AudioCodes has surpassed consensus EPS estimates two times and topped consensus revenue estimates once [1] Group 2: Stock Performance and Market Comparison - AudioCodes shares have declined approximately 12.4% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [2] - The current Zacks Rank for AudioCodes is 3 (Hold), indicating expected performance in line with the market in the near future [3] Group 3: Future Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.27 on revenues of $61.58 million, and for the current fiscal year, it is $0.93 on revenues of $245.08 million [4] - The Communication - Components industry is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [4]