What's Going On With SoundHound AI Stock?
Portfolio Pulse from Adam Eckert
SoundHound AI Inc's Q2 results exceeded analyst expectations with revenues of $8.8 million, up 42% YoY, and an EPS loss of 10 cents. The company ended the quarter with approximately $130 million in cash. SoundHound also reaffirmed its full-year 2023 revenue guidance of $43 million to $50 million and expects to be adjusted EBITDA positive in Q4. Following the news, SoundHound shares were up 13.5%.
August 09, 2023 | 1:03 pm
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SoundHound's better-than-expected Q2 results and positive future revenue guidance have led to a 13.5% increase in its stock price.
SoundHound's Q2 results exceeded expectations, which is a positive signal to investors about the company's performance and potential. This, combined with the company's positive future revenue guidance, has likely contributed to the increase in its stock price.
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