Cerence Inc reports results for the quarter ended September 30 - Earnings Summary

Cerence

21/11/2024 13:01

* Cerence Inc  CRNC.OQ  reported a quarterly adjusted loss
of 7
cents​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of 9
cents.  The mean expectation of eight analysts for the quarter
was for a loss of 36 cents per share. Wall Street expected
results to range from -43 cents to -32 cents per share.
    * Revenue fell 32.2% to $54.81 million from a year ago;
analysts
expected $47.65 million. 
    * Cerence Inc's reported EPS for the quarter was a loss
of 49
cents​.
    * The company reported a quarterly loss of $20.42 million.
    * Cerence Inc shares had fallen by 10.5% this quarter and
lost 85.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.2%
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 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
$4.25 
This summary was machine generated from LSEG data November 21 at
01:00 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
 Sep. 30 2024      -0.36          -0.07          Beat
 Jun. 30 2024      0.05           0.19           Beat
 Mar. 31 2024      -0.22          -0.09          Beat
 Dec. 31 2023      0.90           1.12           Beat