BURLINGTON, Mass. (AP) _ Nuance Communications Inc. (NUAN) on Wednesday reported fiscal first-quarter net income of $48.7 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Burlington, Massachusetts-based company said it had profit of 17 cents. Earnings, adjusted for one-time gains and costs, were 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The voice and language technology company posted revenue of $418.2 million in the period. Its adjusted revenue was $418.3 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $405.7 million.
Nuance Communications shares have risen 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.62, a rise of 20% in the last 12 months.