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Why Cerence Stock Soared Today

TheMotleyFool

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Why Cerence Stock Soared TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of Cerence (NASDAQ: CRNC) surged more than 27% on Thursday after the automotive artificial intelligence (AI) provider reported stronger-than-expected fiscal fourth-quarter results.

Image source: Getty Images.

Cerence's revenue rose by nearly 11% year over year to $60.6 million in the quarter ended Sept. 30. The gains were driven by a 27% jump in license revenue and a 17% increase in connected services revenue.

Source Fool.com

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