Why Shares of Avid Technology Surged Today

Why Shares of Avid Technology Surged Today

Shares of Avid Technology (NASDAQ: AVID) jumped on Tuesday after the technology provider for the media and entertainment industry reported its second-quarter results. Subscription revenue soared 68.3% to $16.4 million, driven by an increase of 24,000 paid subscriptions to around 242,000.