Reports Q1 revenue $138.3M, consensus $131.13M. Stefan Ortmanns, Chief Executive Officer at Cerence, commented, “Our Q1 included a number of advancements in our pursuit of creating an immersive in-cabin experience for the automobile industry powered by the latest advancements in generative AI and large language models. We secured two significant technology partnerships in support of this goal – NVIDIA and Microsoft – both expected to further our efforts to not only enhance our current products with generative AI, but also build and deploy an industry-leading, automotive-grade large language model as the foundation of our next-generation platform. We were proud to show the advances we are making with our products at CES in early January, including a live demo of Cerence Chat Pro integrated with Volkswagen’s IDA in-car assistant.”
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on CRNC:
- Is CRNC a Buy, Before Earnings?
- Cerence to Announce Fiscal First Quarter Results on February 6, 2024
- Cerence, Skoda elevate in-vehicle experience with Cerence Chat Pro
- Cerence selected by Great Wall Motor to power in-car experience
- Great Wall Motor Selects Cerence to Power In-Car Experience as Automaker Expands Globally