Here's why Nuance's stock price is soaring today
Shares of Burlington-based speech recognition company Nuance (Nasdaq: NUAN) were up by… more[1]
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Shares of Burlington-based speech recognition company Nuance[2](Nasdaq: NUAN) were up by about 15 percent on Tuesday, after the company beat Wall Street sales estimates for its most recent quarter and unveiled several cost-savings initiatives.
Shares were up by 15 percent to nearly $20, the highest the stock price has been in at least a year.
The company reported fourth-quarter sales, on an adjusted basis, of $513.3 million, beating Wall Street analysts' estimates of $508.1 million. Net income for the fourth quarter, on an adjusted basis, was $129.6 million, up from $107.6 million for the same period in 2014.
Sales for the fourth quarter, using generally accepted accounting principles, were $504.1 million, up from $502.3 million a year ago.