Cerence Inc reports results for the quarter ended in December - Earnings Summary

Cerence

07/02/2024 15:14

* Cerence Inc  CRNC.OQ  reported quarterly adjusted earnings
of
$1.12​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of 36
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 90 cents per share. Wall Street expected
results to range from 88 cents to 93 cents per share.
    * Revenue rose 65.4% to $138.34 million from a year ago;
analysts
expected $131.13 million. 
    * Cerence Inc's reported EPS for the quarter was 53 cents​.
    * The company reported quarterly net income of $23.86
million.
    * Cerence Inc shares had fallen by 5.5% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 241.7%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Cerence Inc
is
$21.50 

This summary was machine generated from LSEG data February 7 at
03:13 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.90           1.12           Beat
 Sep. 30 2023      0.15           0.09           Missed
 Jun. 30 2023      -0.14          -0.04          Beat
 Mar. 31 2023      -0.13          -0.04          Beat