BUZZ-Adeia shares drop after lowering annual performance expectations

November 3 - ** Shares of technology licensing company Adeia (ADEA.O) plunged 23% in pre-market trading to $15.82

** The company lowered its full-year revenue forecast from the previously estimated $395 million–$435 million to $375 million–$415 million. This figure is below analysts' expectations of $416 million—data compiled by LSEG

** Full-year adjusted net profit forecast was also reduced from the previously estimated $144.2 million–$168.7 million to $136.7 million–$164.3 million

** Reported third-quarter adjusted earnings per share were $0.21, below the expected $0.30

** The stock has risen 19.8% so far this year, while the Nasdaq index has gained 8.3% in the same period .IXIC

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