Nuance expects global Petya cyberattack to hurt Q3 earnings

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Nuance Communications, a voice and language solutions provider, said the global cyberattack in June will hurt its third quarter earnings, according to CNBC.

The worldwide attack — reportedly spread by a malware variant called "Petya" — infected computer systems in more than 60 countries June 27. Nuance, which confirmed the cyberattack caused disruptions to the company's transcription services and radiology critical test results, has continued to restore functions to its clients during the past month. However, many providers still cannot use the company's transcription services, Bloomberg reports.

"Any time there is a cyberattack and a company is exposed to that threat, that presents both reputational risk as well as the risk from disruption" Bloomberg Intelligence analyst Mandeep Singh said. "Since a lot of the deals get signed toward the end of the quarter, the timing of it could have impacted certain deal closures."

Nuance expects third quarter earnings between 26 cents and 28 cents per share, according to CNBC. Thomson Reuters estimated the company's shares would be 29 cents per share.

The company also said it expects adjusted revenue between $494 million to $498 million, compared to Thomson Reuters' analysts estimate of $510 million.

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