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Cerence (CRNC) Set to Report Q3 Earnings: What to Expect?
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Cerence's (CRNC - Free Report) third-quarter fiscal 2021 results are expected to benefit from recovery in automotive market. Expanding footprint of its conversational AI solutions as well as connected services into more car models is likely to have aided top-line growth.
For the fiscal third quarter, the company expects revenues between $94 million and $97 million, indicating 25% to 29% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for revenues is currently pegged at $96.3 million, implying 28.8% growth from the figure reported in the year-ago quarter.
The consensus mark for the bottom line is currently pegged at 53 cents per share, which has been unchanged over the past 30 days and indicates 71% growth from the figure reported in the year-ago quarter.
Cerence’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 104.6%, on average.
Cerence’s fiscal third-quarter performance is likely to have benefited from the increased usage of AI to design robust applications for advanced driver-assisted systems in self-driving vehicles.
Cerence voice-powered technologies are gaining strength. Its expanding partner base is expected to have helped Cerence expand its footprint among the leading automakers.
The integration of the CarPay-Diem fuel payment platform into Cerence Pay is expected to have aided Cerence in attracting new customers in the to-be-reported quarter.
Q3 Highlights: Expanding Partner Base
In the to-be-reported quarter, Cerence and Sirius XM Holdings (SIRI - Free Report) inked a partnership deal to bring the former’s conversational AI technology with SiriusXM as part of a packaged offering for automakers.
Cerence partnered with Pioneer to jointly develop scalable, secure, AI-powered products and services for the mobility world.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Crence has an Earnings ESP of +0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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Cerence (CRNC) Set to Report Q3 Earnings: What to Expect?
Cerence's (CRNC - Free Report) third-quarter fiscal 2021 results are expected to benefit from recovery in automotive market. Expanding footprint of its conversational AI solutions as well as connected services into more car models is likely to have aided top-line growth.
For the fiscal third quarter, the company expects revenues between $94 million and $97 million, indicating 25% to 29% growth from the figure reported in the year-ago quarter.
The Zacks Consensus Estimate for revenues is currently pegged at $96.3 million, implying 28.8% growth from the figure reported in the year-ago quarter.
The consensus mark for the bottom line is currently pegged at 53 cents per share, which has been unchanged over the past 30 days and indicates 71% growth from the figure reported in the year-ago quarter.
Cerence’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 104.6%, on average.
Cerence Inc. Price and EPS Surprise
Cerence Inc. price-eps-surprise | Cerence Inc. Quote
Cerence’s fiscal third-quarter performance is likely to have benefited from the increased usage of AI to design robust applications for advanced driver-assisted systems in self-driving vehicles.
Cerence voice-powered technologies are gaining strength. Its expanding partner base is expected to have helped Cerence expand its footprint among the leading automakers.
The integration of the CarPay-Diem fuel payment platform into Cerence Pay is expected to have aided Cerence in attracting new customers in the to-be-reported quarter.
Q3 Highlights: Expanding Partner Base
In the to-be-reported quarter, Cerence and Sirius XM Holdings (SIRI - Free Report) inked a partnership deal to bring the former’s conversational AI technology with SiriusXM as part of a packaged offering for automakers.
Cerence partnered with Pioneer to jointly develop scalable, secure, AI-powered products and services for the mobility world.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Crence has an Earnings ESP of +0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple of companies worth considering as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Avnet (AVT - Free Report) has an Earnings ESP of +9.82% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
CyberArk Software (CYBR - Free Report) has an Earnings ESP of +37.93% and a Zacks Rank #2.