• 1
  • Comment
  • Favorite

Movement Alert|SoundHound AI Inc Rises 21.93% in Regular Trading, Q2 Revenue Surges 45% YoY Beating Estimates by Wide Margin

Market Focus08-06

On August 6, SoundHound AI Inc rose 21.93% in regular trading, trading at $7.695/share, with turnover of $163 million. The surge followed the company's release of Q2 financial results that significantly exceeded market expectations.

SoundHound AI reported Q2 revenue of $61.9 million, up 45% year-over-year and well above the consensus estimate of $52.39 million. Adjusted EPS came in at -$0.02, beating the -$0.06 estimate by 66.67%. The company simultaneously raised the lower bound of its full-year guidance. As of the end of June, SoundHound held $203 million in cash with zero debt. Interim CFO James Hom attributed the revenue growth to the OASYS platform. Additionally, the company's LivePerson acquisition has received all regulatory approvals, with Wedbush estimating the combined business could generate $350-$400 million in revenue by 2027, including at least $100 million from LivePerson's existing customers.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

empty
No comments yet
 
 
 
 

Most Discussed

 
 
 
 
 

7x24