Nuance Communications' Loss Widens
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SAN FRANCISCO - Nuance Communications'(NUAN Quote) second-quarter revenue surpassed the Street's expectations, but expenses soared, expanding the company's loss.
Revenue at the speech-recognition software developer was up 63% to $219.9 million, including deferred revenue lost to accounting from several acquisitions, from a top line of $134.6 million for the same quarter of last year. Analysts were expecting revenue of $214.3 million, according to Thomson Reuters.
The Burlington, Mass., company posted a loss of $28.8 million, or a loss of 13 cents a share, as the expense of hosting subscription-based software services more than doubled.
Other costs also rose: Research investment grew 75%, while administrative expenses rose 60%. Amortization costs nearly tripled to $14.2 million. ...
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