Cerence: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Cerence (NASDAQ:CRNC) reported Q4 earnings with an EPS of $0.09, missing the estimate of $0.15 by 40%. Despite the miss, revenue increased by $22.62 million compared to the same period last year. In the previous quarter, Cerence beat the EPS estimate but the share price fell by 1.87% the following day.
November 27, 2023 | 12:05 pm
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Cerence reported lower-than-expected Q4 earnings with an EPS of $0.09, missing estimates by 40%, but showed an increase in year-over-year revenue.
Cerence's significant earnings miss is likely to negatively impact investor sentiment in the short term, as historical data shows a previous earnings beat was followed by a share price drop. The increase in revenue may not fully offset the disappointment from the earnings miss.
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