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Cerence Fiscal Q2 Adjusted Earnings, Revenue Rise; Issues Upbeat Q3 Guidance; Updates Full-Year Outlook

05/10/2021 03:48

07:47 AM EDT, 05/10/2021 (MT Newswires) -- Cerence (CRNC) reported fiscal Q2 adjusted earnings Monday of $0.69 per diluted share, up from $0.44 a year ago. The consensus of analysts polled by Capital IQ was $0.52.

Net revenue for the quarter ended March 31 was $98.7 million, up from $86.8 million a year ago. Analysts polled by Capital IQ expected $93.4 million.

Looking ahead, the company expects Q3 2021 EPS to be between $0.52 and $0.57, versus the Street forecast of $0.49 per share, and revenue to be between $94 million and $97 million, compared with the estimate of $95 million.

The company also updated its fiscal full-year revenue expectation to a range of $380 million to $390 million, up from the previous range of $370 million to $380 million, and full-year net income to the range of $35 million to $42 million, down from the previous forecast of $33 million to $39 million.

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