Nuance Communications: Fiscal 1Q Earnings Snapshot
BURLINGTON, Mass. (AP) _ Nuance Communications Inc. (NUAN) on Thursday reported fiscal first-quarter earnings of $19.1 million.
The Burlington, Massachusetts-based company said it had net income of 7 cents per share. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The voice and language technology company posted revenue of $493.7 million in the period. Its adjusted revenue was $495.2 million, missing Street forecasts. Three analysts surveyed by Zacks expected $506.6 million.
Nuance Communications shares have increased 23 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.26, a decline of roughly 5 percent in the last 12 months.