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

Cerence

27/11/2023 13:40

* Cerence Inc  CRNC.OQ  reported quarterly adjusted earnings
of 9
cents​​ per share for the quarter ended in September, higher
than the same quarter last year, when the company reported EPS
of -14 cents.  The mean expectation of nine analysts for the
quarter was for earnings of 15 cents per share. Wall Street
expected results to range from 12 cents to 18 cents per share.
    * Revenue rose 39% to $80.80 million from a year ago;
analysts
expected $73.38 million. 
    * Cerence Inc's reported EPS for the quarter was a loss
of 29
cents​.
    * The company reported a quarterly loss of $11.55 million.
    * Cerence Inc shares had fallen by 15.1% this quarter and
lost 6.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * Wall Street's median 12-month price target for Cerence Inc
is
$31.50 

This summary was machine generated from LSEG data November 27 at
01:39 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.15           0.09           Missed
 Jun. 30 2023      -0.14          -0.04          Beat
 Mar. 31 2023      -0.13          -0.04          Beat
 Dec. 31 2022      0.09           0.36           Beat