"SoundHound AI (NASDAQ: SOUN) shares surged by 29%, reaching an increase of $3.11, alongside a dramatic volume spike to 153 million shares, significantly above its daily average of 38.7 million shares."
"The company reported its strongest quarter ever, with revenue of $42.7 million, marking a remarkable increase of 217.2% year over year, surpassing expectations by $9.82 million."
"SoundHound's CEO noted ongoing growth in several sectors, including automotive and enterprise AI customer service, and the company processed over 1 billion queries monthly."
"Analysts from D.A. Davidson and Wedbush expressed optimism with reiterated Buy ratings, citing the company’s substantial market share growth and significant improvements towards profitability."
SoundHound AI shares have experienced a significant increase of 29% due to strong quarterly earnings. The company reported a revenue of $42.7 million, which reflects a 217.2% year-over-year increase, outperforming expectations by nearly $10 million. The CEO highlighted growth in multiple sectors including automotive and AI services for enterprises. SoundHound is now expecting a full-year 2025 revenue range of $160 million to $178 million. Analysts from D.A. Davidson and Wedbush have provided positive ratings, recognizing the increasing market share and progress towards profitability.
Read at 24/7 Wall St.
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