Cerence (NASDAQ:CRNC) reported its Q3 earnings results on Tuesday, August 9, 2022 at 07:00 AM.

Here's what investors need to know about the announcement.

Earnings

Cerence beat estimated earnings by 2.38%, reporting an EPS of $0.43 versus an estimate of $0.42.

Revenue was down $7.76 million from the same period last year.

Past Earnings Performance

Last quarter the company missed on EPS by $0.01 which was followed by a 7.95% drop in the share price the next day.

Here's a look at Cerence's past performance:

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Cerence management provided guidance for FY 2022, expecting earnings between $1.08 and $1.17 per share.

To track all earnings releases for Cerence visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.