CORRECTION: Cerence Q4 Adj EPS $0.09 Misses $0.15 Estimate, Sales $80.76M Beat $73.38M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cerence Inc. (CRNC) reported Q4 adjusted earnings per share (EPS) of $0.09, missing the consensus estimate of $0.15 by 40%. However, the company's quarterly sales of $80.76M exceeded expectations of $73.38M by 10.06%, marking a 38.90% increase from the same period last year.
November 27, 2023 | 12:58 pm
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Cerence Inc. reported lower-than-expected Q4 EPS at $0.09, missing estimates by 40%, but surpassed sales estimates with $80.76M, a 38.90% increase Y/Y.
The miss on the EPS estimate is likely to have a negative impact on investor sentiment in the short term, despite the sales beat. Earnings misses often weigh more heavily on stock performance than revenue outperformance, especially when the miss is by a significant margin such as 40%.
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