Cerence: Fiscal Q2 Earnings Snapshot

BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Cerence Inc. (CRNC) on Thursday reported a loss of $278 million in its fiscal second quarter.

On a per-share basis, the Burlington, Massachusetts-based company said it had a loss of $6.66. Losses, adjusted for asset impairment costs and pretax expenses, came to 9 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.

The automotive artificial intelligence developer posted revenue of $67.8 million in the period.

For the current quarter ending in June, Cerence expects its results to range from a loss of 1 cent per share to earnings of 13 cents per share.

The company said it expects revenue in the range of $66 million to $72 million for the fiscal third quarter.

Cerence expects full-year earnings to be 80 cents per share, with revenue ranging from $318 million to $332 million.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CRNC at https://www.zacks.com/ap/CRNC

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