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

Cerence

08/08/2024 17:47

* Cerence Inc  CRNC.OQ  reported quarterly adjusted earnings
of 19
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -4
cents.  The mean expectation of eight analysts for the quarter
was for earnings of 5 cents per share. Wall Street expected
results to range from 1 cents to 7 cents per share.
    * Revenue rose 14.4% to $70.54 million from a year ago;
analysts
expected $68.47 million. 
    * Cerence Inc's reported EPS for the quarter was a loss of
$7.50​.
    * The company reported a quarterly loss of $313.54 million.
    * Cerence Inc shares had fallen by 16.3% this quarter and
lost 87.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 51.6%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 7
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "hold"

Wall Street's median 12-month price target for Cerence Inc is
$6.25 
This summary was machine generated from LSEG data August 8 at
04:47 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
 Jun. 30 2024      0.05           0.19           Beat
 Mar. 31 2024      -0.22          -0.09          Beat
 Dec. 31 2023      0.90           1.12           Beat
 Sep. 30 2023      0.15           0.09           Missed