Cerence CRNC reported its Q3 earnings results on Tuesday, August 9, 2022 at 07:00 AM.
Here's what investors need to know about the announcement.
Earnings
Cerence beat estimated earnings by 2.38%, reporting an EPS of $0.43 versus an estimate of $0.42.
Revenue was down $7.76 million from the same period last year.
Past Earnings Performance
Last quarter the company missed on EPS by $0.01 which was followed by a 7.95% drop in the share price the next day.
Here's a look at Cerence's past performance:
| Quarter | Q2 2022 | Q1 2022 | Q4 2021 | Q3 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.34 | 0.51 | 0.56 | 0.54 |
| EPS Actual | 0.33 | 0.59 | 0.66 | 0.62 |
| Revenue Estimate | 84.62M | 94.38M | 97.92M | 96.27M |
| Revenue Actual | 86.28M | 94.43M | 66.96M | 96.80M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Cerence management provided guidance for FY 2022, expecting earnings between $1.08 and $1.17 per share.
To track all earnings releases for Cerence visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
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