Cerence Q3 Adj. EPS $(0.04) Beats $(0.15) Estimate, Sales $61.70M Beat $60.83M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cerence (NASDAQ:CRNC) reported Q3 adjusted EPS of $(0.04), beating the estimate of $(0.15) by 73.33%. However, this is a 109.3% decrease from last year's earnings. The company also reported sales of $61.70M, beating the estimate of $60.83M by 1.43%, but this is a 30.71% decrease from last year.
August 08, 2023 | 11:00 am
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Cerence reported better than expected Q3 results but showed significant decreases from last year.
While Cerence beat estimates for Q3, the significant year-on-year decreases in both earnings and sales could potentially offset any positive impact from beating estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100