Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Cerence Stock Is Falling Hard Today

TheMotleyFool

0 0

Why Cerence Stock Is Falling Hard Today: https://g.foolcdn.com/editorial/images/695308/gettyimages-1323542329.jpg

Shares of Cerence (NASDAQ: CRNC), a software company focusing on mobility, plummeted today after the company reported its fiscal third-quarter results for the period ended June 30. The company beat analysts' consensus bottom-line estimate but missed Wall Street's top-line expectations and issued guidance that was worse than expected.

The tech stock was down by 22.6% as of 12:25 p.m. ET.

Cerence reported non-GAAP (adjusted) earnings per share of $0.43, which were down from $0.62 per share in the year-ago quarter but slightly ahead of analysts' average estimate of $0.42.

Source Fool.com

Like: 0

CRNC

Share