Nuance Jumps on Q4 Results

Nuance Communications Inc. (NASDAQ: NUAN) reported better-than-expected results for its fourth quarter on Wednesday.

GAAP revenue was$352.9 million and GAAP earnings per diluted share of $(0.08) .Non-GAAP revenue of $352.9 million and non-GAAP earnings per diluted share of $0.18 .

Said CEO Mark Benjamin, "We are very pleased with the strong end to our fiscal year, as we delivered revenue and EPS at the high end of our guidance range.

"We continued to execute on our strategic initiatives, accelerating our cloud transition in Healthcare and focusing on our AI-first approach in Enterprise. In Healthcare, we drove solid growth in our cloud offerings, ending the year at $386 million in cloud-based ARR, up 29% for the full year.

“In particular, we benefited from strong performance in Dragon Medical Cloud, which grew 38% compared to 2019, as well as growth in our PowerScribe One and CDE One offerings, as we continue to transition our customer base to the cloud. Enterprise revenue increased 4% compared to 2019, marking our fifth consecutive year of organic growth. This growth was driven by strength in our Intelligent Engagement offerings."

NUAN shares galloped $5.84, or 17.2%, to $39.78.