Published on 23 Nov 2021 on Zacks via Yahoo Finance
Cerence (CRNC) Q4 Earnings Beat Estimates, Revenues Up Y/Y
Cerence Inc. CRNC reported fourth-quarter fiscal 2021 non-GAAP earnings of 66 cents per share, up 6.5% on a year-over-year basis. The figure beat the Zacks Consensus Estimate by 20%.Revenues came in at $98.1 million, up 7.5% year over year driven by strength in the License, Connected Services and Professional Services segments. However, the top line missed the Zacks Consensus Estimate by 0.6%.In fiscal 2021, the company reported non-GAAP earnings of $2.53 per share, up 48.8% on a year-over-year basis. Revenues came in at $387.2 million, up 17% year over year.The company reported bookings of $590 million for fiscal 2021. New products represented 20% of the total bookings for the year.Following the fiscal fourth-quarter announcement, shares of Cerence dropped 20.6% and closed at $82.59 on Nov 22. In the premarket trading on Nov 23, shares are trading up 1.1%.
Cerence Inc. Price, Consensus and EPS Surprise
