Nuance shares fall as first-quarter results miss Wall Street's estimates
(Reuters) - Speech recognition software maker Nuance Communications Inc (NUAN.O) reported lower-than-expected first-quarter results, hurt by higher expenses.
Shares of the Burlington, Massachusetts-based company fell 12 percent to $21.54 during extended trade on the Nasdaq on Thursday.
The company reported a net loss of $22.1 million, or 7 cents per share, in the first quarter, compared with a profit of $9.3 million, or 3 cents per share, a year earlier.
Excluding items, Nuance, whose technology powers the Siri voice recognition feature on Apple Inc's (AAPL.O) iPhone, earned 35 cents per share.
Revenue rose 28 percent to $462.3 million.
Analysts on average were looking for a profit of 36 cents per share and revenue of $492.4 million, according to Thomson Reuters I/B/E/S.
(Reporting by Supantha Mukherjee and Aditya Kondalamahanty in Bangalore; Editing by Sriraj Kalluvila)
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