Nuance Falls After Q1 Earnings

Shares of Nuance Communications

plunged in Thursday's after hours trading session after the company reported a first-quarter net loss. The stock was last down around 13 percent in late trade. Nuance said that it lost $22.1 million or $0.07 per share, compared to net income of $9.3 million or $0.03 per share, in the year ago period. On an adjusted basis, net income was $112.96 million or $0.35 per share, versus $108.55 million or $0.34 per share, last year. This missed analysts' consensus EPS estimates of $0.36 by a penny. Revenues in the first-quarter were up 28.2 percent to $462.27 million from $360.64 million a year ago. On an adjusted basis, revenue rose to $492.42 million from $382.05 million. The sales results were in-line with Wall Street estimates.