Nuance Communications Earnings: Here’s Why Shares are Down Now
Nuance Communications, Inc. (NASDAQ:NUAN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 6.36%.
Nuance Communications, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 24.44% to $0.34 in the quarter versus EPS of $0.45 in the year-earlier quarter.
Revenue: Rose 13.68% to $490.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nuance Communications, Inc. reported adjusted EPS income of $0.34 per share. By that measure, the company beat the mean analyst estimate of $0.32. It beat the average revenue estimate of $487.64 million.
Quoting Management: “Nuance’s revenue improved in the third quarter, and strong third quarter design wins and bookings in our recurring revenue streams position us well for improved performance in fiscal 2014,” said Paul Ricci, Nuance Chairman and CEO. “We continued to deliver innovative solutions and drive market penetration in strategic markets such as connected cars, voice-enabled televisions, healthcare revenue cycle management, mobile customer care and voice biometrics.”
Key Stats (on next page)…