Speech recognition software maker Nuance Communications Inc forecast current-quarter adjusted revenue and profit below expectations as the company continues to struggle from its transition to a subscription-based business model. Nuance, which makes the software that runs the Siri feature on Apple Inc’s iPhones, also reported its seventh quarterly loss in a row. “Nuance continues to be a work in progress as the company transitions to a subscription-based model and still faces some growth challenges in the field,” FBR Capital Markets analyst Daniel Ives wrote in a mail to Reuters. Nuance said in June it held talks with potential buyers for a sale, the Wall Street Journal reported, citing people familiar with the matter.
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