SoundHound Issues Upbeat Q4 Outlook After Q3 Revenue Beats Expectations: Details
Portfolio Pulse from Ryan Gustafson
SoundHound AI, Inc. (NASDAQ:SOUN) reported Q3 losses of nine cents per share, in line with analyst estimates, and a 40% improvement over the same period last year. The company's Q3 sales were $13.27 million, beating the analyst consensus estimate of $12.78 million. SoundHound also reported a 46% YoY improvement in operating loss and 40% in net loss per share. The company expects Q4 revenue to be between $16 million and $20 million, compared to the $17.56 million estimate.
November 09, 2023 | 10:02 pm
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SoundHound's Q3 results were in line with analyst estimates, and the company's sales beat expectations. The company also reported improvements in operating and net loss per share. However, shares were trading lower in the after-hours session.
SoundHound's Q3 results were in line with analyst estimates, and the company's sales beat expectations. This indicates a positive financial performance. However, despite the positive results, the company's shares were trading lower in the after-hours session, indicating a negative market reaction. This could potentially lead to a short-term decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100