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Compared to Estimates, Cerence (CRNC) Q2 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Cerence (CRNC - Free Report) reported revenue of $67.83 million, down 0.8% over the same period last year. EPS came in at -$0.09, compared to -$0.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $62.22 million, representing a surprise of +9.01%. The company delivered an EPS surprise of +60.87%, with the consensus EPS estimate being -$0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cerence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Connected services: $13.60 million versus the two-analyst average estimate of $15.46 million. The reported number represents a year-over-year change of -28.2%.
Revenues- License: $35.53 million versus the two-analyst average estimate of $27.28 million. The reported number represents a year-over-year change of +15.4%.
Revenues- Professional services: $18.70 million versus the two-analyst average estimate of $19.53 million. The reported number represents a year-over-year change of +0.2%.
Shares of Cerence have returned -27.3% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Cerence (CRNC) Q2 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Cerence (CRNC - Free Report) reported revenue of $67.83 million, down 0.8% over the same period last year. EPS came in at -$0.09, compared to -$0.04 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $62.22 million, representing a surprise of +9.01%. The company delivered an EPS surprise of +60.87%, with the consensus EPS estimate being -$0.23.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Cerence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenues- Connected services: $13.60 million versus the two-analyst average estimate of $15.46 million. The reported number represents a year-over-year change of -28.2%.
- Revenues- License: $35.53 million versus the two-analyst average estimate of $27.28 million. The reported number represents a year-over-year change of +15.4%.
- Revenues- Professional services: $18.70 million versus the two-analyst average estimate of $19.53 million. The reported number represents a year-over-year change of +0.2%.
View all Key Company Metrics for Cerence here>>>Shares of Cerence have returned -27.3% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.