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

Cerence

10/05/2024 17:02

* Cerence Inc  CRNC.OQ  reported a quarterly adjusted loss
of 9
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of -4
cents.  The mean expectation of nine analysts for the quarter
was for a loss of 22 cents per share. Wall Street expected
results to range from -25 cents to -18 cents per share.
    * Revenue fell 0.8% to $67.83 million from a year ago;
analysts
expected $62.15 million. 
    * Cerence Inc's reported EPS for the quarter was a loss of
$6.66​.
    * The company reported a quarterly loss of $277.98 million.
    * Cerence Inc shares had fallen by 60.1% this quarter and
lost 68.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.6%
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," 8
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Cerence Inc
is
$9.00 

This summary was machine generated from LSEG data May 10 at
04:01 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
 Mar. 31 2024      -0.22          -0.09          Beat
 Dec. 31 2023      0.90           1.12           Beat
 Sep. 30 2023      0.15           0.09           Missed
 Jun. 30 2023      -0.14          -0.04          Beat