Shares of Cerence Inc. (CRNC) soared 6.83% in Thursday's after-hours trading session, following the company's better-than-expected earnings results for the first quarter of fiscal 2025.
The provider of automotive artificial intelligence solutions reported an adjusted loss of $0.03 per share for Q1, significantly smaller than the $0.26 loss per share anticipated by analysts. Revenue of $50.9 million also edged out expectations of $50.84 million.
The strong quarterly performance appears to have fueled investor optimism, driving Cerence's stock price sharply higher in the after-hours session as investors reacted positively to the company's ability to surpass earnings and revenue estimates.
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