Cerence (NASDAQ:CRNC) reported its Q2 earnings results on Tuesday, May 10, 2022 at 07:00 AM.
Here's what investors need to know about the announcement.
Earnings
Cerence missed estimated earnings by 2.94%, reporting an EPS of $0.33 versus an estimate of $0.34.
Revenue was down $12.38 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.08 which was followed by a 5.0% increase in the share price the next day.
Here's a look at Cerence's past performance:
| Quarter | Q1 2022 | Q4 2021 | Q3 2021 | Q2 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.51 | 0.56 | 0.54 | 0.52 |
| EPS Actual | 0.59 | 0.66 | 0.62 | 0.69 |
| Revenue Estimate | 94.38M | 97.92M | 96.27M | 93.44M |
| Revenue Actual | 94.43M | 66.96M | 96.80M | 98.66M |
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 $1.8 and $2.16 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.
