Cerence First Quarter 2023 Earnings: Beats Expectations
Cerence (NASDAQ:CRNC) First Quarter 2023 Results
Key Financial Results
Revenue: US$83.7m (down 11% from 1Q 2022).
Net loss: US$2.16m (down by 111% from US$19.0m profit in 1Q 2022).
US$0.054 loss per share (down from US$0.49 profit in 1Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Cerence Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) also surpassed analyst estimates by 88%.
Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's shares are up 3.3% from a week ago.
What about risks? Every company has them, and we've spotted 2 warning signs for Cerence you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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