tiprankstipranks
Nuance Delivers Mixed Q2 Results
Market News

Nuance Delivers Mixed Q2 Results

Nuance Communications (NUAN) delivered mixed second-quarter financial results, as revenue beat estimates but earnings fell short of expectations. The company also confirmed that it is on track to complete its merger with Microsoft (MSFT) before year-end.

Adjusted revenue in the quarter landed at $336.6 million, up 12.7% from $298.6 million in the same quarter last year and above consensus estimates of $333.53 million. (See Nuance Communications stock charts on TipRanks)

Meanwhile, Nuance Communications delivered non-GAAP earnings of $0.16 per share, an improvement from earnings of $0.14 a share in the same quarter last year. However, this fell short of analysts’ expectations of $0.17 per share.

Nuance CEO Mark Benjamin stated, “We are encouraged by the company’s overall performance year-to-date, and feel we are set up for a strong end to fiscal year 2021.”

Notably, Nuance Communications will cease to be a publicly traded company once its merger with Microsoft is finalized. Per the terms of the agreement, the software giant is set to acquire all of Nuance’s outstanding common shares for $56 per share in an all-cash transaction through a wholly-owned subsidiary.

Consensus among analysts is that NUAN is a Moderate Buy based on 1 Buy and 2 Holds. The average Nuance Communications price target of $56 implies 2.38% upside potential to current levels.

TipRanks data shows that financial blogger opinions are 71% Bullish on NUAN, the same as the sector average.

Related News:
Appian Acquires Lana Labs
Cronos Group Posts Larger Gross Loss in Q2
Magna International Sales More Than Double in Q2

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles