BURLINGTON, Mass. (AP) – Nuance Communications Inc. (NUAN) reported a fourth-quarter fiscal loss of $ 23.9 million on Wednesday, after posting a profit in the same period last year.
The Burlington, Massachusetts-based company said it posted a loss of 8 cents per share. The profit, adjusted for non-recurring costs and stock option expenses, was 18 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts interviewed by Zacks Investment Research was a gain of 16 cents per share.
The speech and language technology company posted revenue of $ 352.9 million in the period, which also surpassed Street’s forecasts. Four analysts interviewed by Zacks were expecting $ 346.4 million.
For the year, the company reported earnings of $ 21.4 million, or 7 cents per share. Revenue was reported as $ 1.48 billion.
Nuance Communications’ shares have risen 90% since the beginning of the year. The stock hit $ 33.94 in the final few minutes of trading on Wednesday, more than doubling in the past 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a report on Zacks shares on NUAN at https://www.zacks.com/ap/NUAN
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