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.
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.
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