Nuance Misses on Q1 Net
Shares of Nuance Communications were down following the release of the firm's Q1 2013 results. Non-GAAP revenue came in at $492 million, a 28% year-over-year increase. That slightly exceeded the average analyst estimate of $490 million. Net profit was $113 million ($0.35 per diluted share), which bettered Q1 2012's $109 million ($0.34), but fell just short of analyst expectations of $0.36.
The company offered guidance going forward of $500 million-$553 million for the quarter, with EPS of $0.36-$0.45. For the full year, those numbers are $2.05 billion-$2.10 billion, and $1.76-$1.87, respectively.
Nuance Communications stock was down nearly 15%, to $20.95, in after-hours trading.
The article Nuance Misses on Q1 Net originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Nuance Communications. The Motley Fool recommends Nuance Communications. The Motley Fool owns shares of Nuance Communications. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.