BURLINGTON, Mass. (AP) — BURLINGTON, Mass. (AP) — Cerence Inc. (CRNC) on Tuesday reported a loss of $26.1 million in its fiscal second quarter.
The Burlington, Massachusetts-based company said it had a loss of 65 cents per share. Losses, adjusted for stock option expense and restructuring costs, were 4 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The automotive artificial intelligence developer posted revenue of $68.4 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $66.3 million.
For the current quarter ending in June, Cerence said it expects revenue in the range of $58 million to $62 million.
The company expects full-year revenue in the range of $280 million to $290 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CRNC">Zacks stock report on CRNC at https://www.zacks.com/ap/CRNC