Nuance +1.8% after revenue beat, new buyback

|About: Nuance Communications, Inc. (NUAN)|By:, SA News Editor

Nuance Communications (NASDAQ:NUAN) is gaining after hours, up 1.8%, following fiscal Q3 earnings where its revenues came in ahead of expectations and the company launched a new buyback.

Non-GAAP revenues rose 2% to $506M; recurring revenue made up 73% of the total, consistent with last year.

Net income rose fractionally to $79.6M. Operating margin fell to 24.7% from last year's 27%.

Net new bookings growth was 7%, to $471.1M.

In capital moves, it announced incremental additions to its share repurchase authorization of up to $500M, and a $150M debt repayment.

Revenue breakout: Professional services and hosting, $254.5M (up 1.2%); Product and licensing, $168.7M (up 9.3%); Maintenance and support, $79.7M (down 1%).

Conference call to come at 5 p.m. ET.

Press release

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