Cerence: Fiscal Q1 Earnings Snapshot

BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Cerence Inc. (CRNC) on Wednesday reported a fiscal first-quarter loss of $2.2 million, after reporting a profit in the same period a year earlier.

The Burlington, Massachusetts-based company said it had a loss of 5 cents per share. Earnings, adjusted for stock option expense and restructuring costs, were 36 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.

The automotive artificial intelligence developer posted revenue of $83.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $77 million.