Nuance shares jump on early peek at 2Q results

Associated Press

BURLINGTON, Mass. (AP) — Shares of Nuance Communications surged Thursday after the maker of voice recognition software maker said earnings and revenue for its latest quarter will top analyst projections.

Based on its preliminary calculations, Nuance expects to report revenue for the three months ended in March between $416 million and $418 million. That's above the $406 million forecast by analysts, according to FactSet. The company said sales to businesses were especially strong.

After subtracting expenses for employee stock compensation, acquisitions and certain other items, the Burlington, Mass.-based company expects to earn 42 cents or 43 cents per share for the fiscal second quarter. That also beats the 38 cents per share expected by analysts.

Nuance shares gained $1.99, or nearly 9 percent, to $24.79 in Thursday afternoon trading. The company plans to report its final results for the quarter on May 10.