Cerence Inc Down 1.56% To $17.02 After Earnings

Cerence Inc (CRNC) said before open Monday that it broke even in quarter four 2023.

In the same quarter a year ago, the company lost $0.14 per share on revenue of $58.1 million.

The stock is down 1.56% to $17.02 after the report.

Cerence Inc's profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Cerence Inc a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 55. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all major automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, Middle East and Africa; Japan and Other Asia-Pacific.