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For the fiscal fourth quarter, Cerence expects revenues in the range of $72-$76 million.
The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $74 million, indicating a rise of 27.27% from the figure reported in the year-ago quarter.
The consensus estimate for fiscal fourth-quarter earnings is pegged at 13 cents per share against a loss of 14 cents reported in the year-ago quarter. The consensus estimates for earnings have been stable in the past 30 days.
Cerence’s earnings beat the Zacks Consensus Estimate in the last four quarters. The company has a trailing four-quarter earnings surprise of 122.08% on average.
Let’s see how things have shaped up for Cerence prior to this announcement.
Customer Base Continued to Expand
Cerence’s fiscal fourth quarter is likely to have benefited from portfolio strength. CRNC’s focus on integrating large language models and generative AI into its offerings has been a key catalyst.
Increased adoption of Cerence Assistant, powered by generative AI, is expected to have enhanced user experiences. Portfolio strength is likely to have attracted new customers, contributing to its revenue growth in the fiscal fourth quarter.
Cerence's strategic wins in the core auto business during the fiscal third quarter reflects portfolio strength. The companywon contracts with a major Japanese OEM for connected services and is providing emergency vehicle detection technology for a major Korean car company in the previous quarter.
The company’s expansion in new markets, especially in domains like two-wheelers and truck markets are noteworthy. CRNC started making products for two-wheelers in the fiscal third quarter.
Despite macroeconomic uncertainties, the company is well-positioned to capitalize on innovation and strategic partnerships, reinforcing its commitment to sustained growth in the evolving automotive technology landscape in the fiscal fourth quarter.
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.
Cerence has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other 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) to Report Q4 Earnings: What's in the Cards?
Cerence (CRNC - Free Report) is scheduled to report fourth-quarter fiscal 2023 results on Nov 27.
For the fiscal fourth quarter, Cerence expects revenues in the range of $72-$76 million.
The Zacks Consensus Estimate for fiscal fourth-quarter revenues is pegged at $74 million, indicating a rise of 27.27% from the figure reported in the year-ago quarter.
The consensus estimate for fiscal fourth-quarter earnings is pegged at 13 cents per share against a loss of 14 cents reported in the year-ago quarter. The consensus estimates for earnings have been stable in the past 30 days.
Cerence Inc. Price and EPS Surprise
Cerence Inc. price-eps-surprise | Cerence Inc. Quote
Cerence’s earnings beat the Zacks Consensus Estimate in the last four quarters. The company has a trailing four-quarter earnings surprise of 122.08% on average.
Let’s see how things have shaped up for Cerence prior to this announcement.
Customer Base Continued to Expand
Cerence’s fiscal fourth quarter is likely to have benefited from portfolio strength. CRNC’s focus on integrating large language models and generative AI into its offerings has been a key catalyst.
Increased adoption of Cerence Assistant, powered by generative AI, is expected to have enhanced user experiences. Portfolio strength is likely to have attracted new customers, contributing to its revenue growth in the fiscal fourth quarter.
Cerence's strategic wins in the core auto business during the fiscal third quarter reflects portfolio strength. The companywon contracts with a major Japanese OEM for connected services and is providing emergency vehicle detection technology for a major Korean car company in the previous quarter.
The company’s expansion in new markets, especially in domains like two-wheelers and truck markets are noteworthy. CRNC started making products for two-wheelers in the fiscal third quarter.
Despite macroeconomic uncertainties, the company is well-positioned to capitalize on innovation and strategic partnerships, reinforcing its commitment to sustained growth in the evolving automotive technology landscape in the fiscal fourth quarter.
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.
Cerence has an Earnings ESP of 0.00% and a Zacks Rank #3 (Hold). You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Synopsys (SNPS - Free Report) has an Earnings ESP of 0.00% and a Zacks Rank #2. You can find the complete list of today’s Zacks #1 Rank stocks here.
Synopsys is set to announce fourth-quarter and fiscal 2023 results on Nov 29. SNPS’ shares are up 69.3% year to date.
Snowflake (SNOW - Free Report) has an Earnings ESP of +67.33% and a Zacks Rank #2.
Snowflake is set to announce third-quarter 2023 results on Nov 29. SNOW’s shares have returned 16.3% year to date.
Veeva Systems (VEEV - Free Report) has an Earnings ESP of +1.15% and a Zacks Rank #3.
Veeva Systems is set to announce third-quarter fiscal 2024 results on Dec 6. VEEV’s shares have returned 9.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.